Morningstar (NASDAQ:MORN) Hits New 12-Month High – Time to Buy?

Morningstar, Inc. (NASDAQ:MORN)’s stock price reached a new 52-week high on Tuesday . The company 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 Analyst Weigh In

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

Morningstar Stock Up 0.4 %

The firm has a market capitalization of $14.77 billion, a PE ratio of 69.82 and a beta of 1.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $317.06 and a 200 day simple moving average of $305.57.

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

Morningstar Dividend Announcement

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

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $316.48, for a total transaction of $237,360.00. Following the completion of the transaction, the director now owns 13,590 shares of the company’s stock, valued at $4,300,963.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $316.48, for a total transaction of $237,360.00. Following the transaction, the director now directly owns 13,590 shares of the company’s stock, valued at approximately $4,300,963.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’s stock in a transaction on 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 directly owns 12,967 shares of the company’s stock, valued at $4,160,980.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,541 shares of company stock valued at $18,399,192 over the last ninety days. 39.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Morningstar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky boosted its position in Morningstar by 6.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 8,420 shares of the business services provider’s stock valued at $2,410,000 after acquiring an additional 520 shares in the last quarter. Wellington Management Group LLP grew its stake in Morningstar by 45.9% in the fourth quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after purchasing an additional 160,281 shares during the period. Vanguard Group Inc. raised its holdings in Morningstar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock worth $737,546,000 after purchasing an additional 23,812 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Morningstar by 26.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,222 shares of the business services provider’s stock valued at $350,000 after buying an additional 257 shares during the period. Finally, CWM LLC boosted its holdings in shares of Morningstar by 241.7% during the 1st quarter. CWM LLC now owns 1,107 shares of the business services provider’s stock valued at $341,000 after buying an additional 783 shares in the last quarter. 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.