Morningstar (NASDAQ:MORN) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a report released on Thursday.

Other equities analysts have also recently issued research reports about the stock. Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research report on Wednesday, October 9th. UBS Group assumed coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price objective for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

NASDAQ:MORN opened at $352.91 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar has a fifty-two week low of $269.51 and a fifty-two week high of $362.01. The company has a 50 day simple moving average of $343.52 and a two-hundred day simple moving average of $318.92. The company has a market capitalization of $15.13 billion, a PE ratio of 46.62 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 for the quarter, missing the consensus estimate of $2.01 by ($0.01). The company had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a $0.455 dividend. This is a boost 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 annualized dividend and a yield of 0.52%. Morningstar’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 118 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $342.13, for a total value of $40,371.34. Following the completion of the sale, the chairman now owns 10,788,378 shares in the company, valued at approximately $3,691,027,765.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on 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 owns 12,840 shares in the company, valued at $4,261,339.20. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,188 shares of company stock valued at $16,823,772. Corporate insiders own 39.90% of the company’s stock.

Institutional Investors Weigh In On Morningstar

Large investors have recently made changes to their positions in the business. Millennium Management LLC grew its position in Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after buying an additional 194,122 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after acquiring an additional 102,206 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after acquiring an additional 85,098 shares during the period. Boston Financial Mangement LLC purchased a new stake in shares of Morningstar during the 3rd quarter worth approximately $19,666,000. Finally, FMR LLC raised its holdings in shares of Morningstar by 10.9% in the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after purchasing an additional 39,263 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

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.