Morningstar (NASDAQ:MORN) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other equities research analysts have also issued reports on the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a research note on Wednesday, October 9th. UBS Group started coverage on Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Trading Up 0.1 %

Shares of NASDAQ:MORN opened at $358.78 on Thursday. The firm has a fifty day moving average of $342.84 and a two-hundred day moving average of $318.54. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar has a 12-month low of $269.51 and a 12-month high of $362.01. The firm has a market capitalization of $15.38 billion, a P/E ratio of 47.40 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The firm had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given 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 of this dividend is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a yield of 0.51%. Morningstar’s payout ratio is currently 21.40%.

Insider Activity

In related news, Director William M. Lyons sold 750 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total value of $248,910.00. Following the completion of the sale, the director now owns 12,840 shares in the company, valued at approximately $4,261,339.20. This trade represents a 5.52 % 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, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $328.22, for a total value of $2,974,329.64. Following the transaction, the chairman now owns 10,845,718 shares in the company, valued at $3,559,781,561.96. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,188 shares of company stock valued at $16,823,772. 39.90% of the stock is owned by insiders.

Institutional Trading of Morningstar

Several institutional investors have recently modified their holdings of MORN. CIBC Asset Management Inc lifted its position in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after purchasing an additional 41 shares during the period. Legacy Advisors LLC boosted its position in shares of Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after acquiring an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV boosted its position in shares of Morningstar by 2.2% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock valued at $719,000 after acquiring an additional 49 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in Morningstar by 7.3% in the second quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 51 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in 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 purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds 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.