Morningstar (NASDAQ:MORN) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

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

Morningstar Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day simple moving average of $313.19 and a 200 day simple moving average of $304.12. The company has a market cap of $14.25 billion, a P/E ratio of 67.52 and a beta of 1.19.

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

Morningstar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.49%. Morningstar’s dividend payout ratio is currently 32.73%.

Insider Activity

In related news, 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 transaction of $513,424.00. Following the sale, the executive now owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction on Friday, August 30th. The stock was sold at an average price of $311.60, for a total value of $233,700.00. Following the completion of the transaction, the director now directly owns 14,340 shares in the company, valued at approximately $4,468,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the completion of the transaction, the executive now owns 12,967 shares of the company’s stock, valued at $4,160,980.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,541 shares of company stock valued at $18,399,192. 39.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Morningstar

A number of institutional investors and hedge funds have recently bought and sold shares of MORN. Millennium Management LLC raised its stake in shares of 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 acquiring an additional 194,122 shares during the last quarter. M&G Plc purchased a new stake in shares of Morningstar in the first quarter worth about $52,293,000. Wellington Management Group LLP grew its stake in shares of Morningstar by 45.9% in the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after buying an additional 160,281 shares in the last quarter. Norden Group LLC raised its position in Morningstar by 3,164.9% during the first quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock valued at $39,860,000 after purchasing an additional 125,298 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in shares of Morningstar in the first quarter valued at $20,986,000. 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.