Morningstar (NASDAQ:MORN) Sets New 12-Month High – Here’s What Happened

Morningstar, Inc. (NASDAQ:MORN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $336.58 and last traded at $336.58, with a volume of 27759 shares. The stock had previously closed at $335.28.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MORN shares. UBS Group started coverage on Morningstar in a report on Tuesday. They issued a “buy” rating and a $390.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research note on Wednesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Morningstar Stock Up 1.8 %

The company has a 50 day moving average price of $313.94 and a two-hundred day moving average price of $304.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $14.54 billion, a PE ratio of 68.37 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. The company 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the completion of the sale, the chairman now owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total value of $2,742,523.68. Following the completion of the sale, the chairman now owns 10,631,706 shares of the company’s stock, valued at approximately $3,217,579,503.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,541 shares of company stock worth $18,399,192. 39.90% of the stock is owned by insiders.

Institutional Trading of Morningstar

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in Morningstar by 21.9% in the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after buying an additional 44 shares in the last quarter. Legacy Advisors LLC boosted its stake in shares of Morningstar by 1.6% in the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after acquiring an additional 49 shares during the period. GAMMA Investing LLC boosted its stake in shares of Morningstar by 38.6% in the second quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock worth $54,000 after acquiring an additional 51 shares during the period. Great Valley Advisor Group Inc. boosted its stake in shares of Morningstar by 7.3% in the second quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after acquiring an additional 51 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Morningstar by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.