Morningstar (NASDAQ:MORN) Sets New 1-Year High – What’s Next?

Morningstar, Inc. (NASDAQ:MORN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $345.72 and last traded at $345.72, with a volume of 2675 shares traded. The stock had previously closed at $342.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MORN shares. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research report on Wednesday, October 9th. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Morningstar has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Trading Up 1.5 %

The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 69.17 and a beta of 1.19. The business’s 50 day simple moving average is $315.32 and its 200 day simple moving average is $305.03. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. The business had revenue of $571.90 million during the quarter. Morningstar had a return on equity of 22.34% and a net margin of 11.34%.

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s payout ratio is presently 32.73%.

Insider Buying and Selling at Morningstar

In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total value of $513,424.00. Following the transaction, the executive now directly owns 12,967 shares in the company, valued at $4,160,980.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total transaction of $513,424.00. Following the completion of the sale, the executive now owns 12,967 shares in the company, valued at $4,160,980.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.03, for a total value of $362,682.32. Following the transaction, the chairman now owns 10,640,768 shares in the company, valued at approximately $3,373,442,679.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,541 shares of company stock valued at $18,399,192 in the last quarter. 39.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its position in shares of Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Morningstar during the second quarter worth approximately $35,000. DT Investment Partners LLC bought a new position in Morningstar during the 2nd quarter worth $36,000. Acadian Asset Management LLC increased its stake in Morningstar by 73.8% during the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after acquiring an additional 62 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 51 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.