Morningstar (NASDAQ:MORN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Morningstar (NASDAQ:MORN) from a buy rating to a hold rating in a report issued on Friday.

A number of other research firms have also issued reports on MORN. UBS Group initiated coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price on the stock. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. 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. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

MORN opened at $340.32 on Friday. The firm has a fifty day moving average price of $344.78 and a 200 day moving average price of $320.84. Morningstar has a 1 year low of $269.51 and a 1 year high of $365.00. The stock has a market cap of $14.59 billion, a P/E ratio of 44.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $569.40 million during the quarter.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.455 per share. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. This represents a $1.82 annualized dividend and a yield of 0.53%. Morningstar’s payout ratio is presently 21.40%.

Insider Activity at Morningstar

In other news, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the sale, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Lyons sold 750 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the transaction, the director now directly owns 12,840 shares in the company, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,411 shares of company stock worth $17,961,104 in the last 90 days. 39.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MORN. V Square Quantitative Management LLC acquired a new position in shares of Morningstar in the third quarter valued at $30,000. Blue Trust Inc. raised its position in shares of Morningstar by 326.9% during the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after acquiring an additional 85 shares during the last quarter. Crewe Advisors LLC acquired a new position in Morningstar during the 2nd quarter valued at about $35,000. Venturi Wealth Management LLC boosted its stake in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 61 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Morningstar by 73.8% during the second quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares during the period. Institutional investors own 57.02% of the company’s stock.

Morningstar Company Profile

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.