Morningstar (NASDAQ:MORN) Reaches New 12-Month High After Dividend Announcement

Shares of Morningstar, Inc. (NASDAQ:MORN) reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as $361.10 and last traded at $361.10, with a volume of 4199 shares trading hands. The stock had previously closed at $357.07.

The newly announced dividend which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.51%. This is an increase from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is presently 21.40%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MORN shares. Redburn Atlantic downgraded 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, October 9th. BMO Capital Markets restated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com cut Morningstar from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. Finally, UBS Group initiated coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

The stock has a market capitalization of $15.35 billion, a PE ratio of 47.29 and a beta of 1.19. The business’s 50 day moving average is $339.65 and its 200 day moving average is $316.99. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

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

Insider Transactions at Morningstar

In other news, 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 sale, the director now directly owns 12,840 shares in the company, valued at approximately $4,261,339.20. The trade was a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total transaction of $2,464,733.20. Following the sale, the chairman now owns 10,517,257 shares of the company’s stock, valued at approximately $3,217,754,779.15. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,244 shares of company stock worth $19,288,505. 39.90% of the stock is currently owned by company insiders.

Institutional Trading of Morningstar

Several hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Morningstar during the third quarter worth approximately $30,000. Blue Trust Inc. grew its holdings in shares of Morningstar by 326.9% during the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after buying an additional 85 shares in the last quarter. Crewe Advisors LLC purchased a new position in Morningstar during the second quarter valued at approximately $35,000. DT Investment Partners LLC purchased a new position in shares of Morningstar during the 2nd quarter valued at $36,000. Finally, Venturi Wealth Management LLC grew its stake in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

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.