Morningstar (NASDAQ:MORN) Hits New 1-Year High at $333.50

Morningstar, Inc. (NASDAQ:MORN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $333.50 and last traded at $333.50, with a volume of 593 shares changing hands. The stock had previously closed at $320.69.

Analysts Set New Price Targets

Separately, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th.

Morningstar Stock Up 0.1 %

The stock has a market cap of $13.72 billion, a PE ratio of 64.79 and a beta of 1.18. The business has a 50 day moving average of $311.82 and a 200-day moving average of $303.03. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, October 4th. Morningstar’s payout ratio is 32.73%.

Insider Buying and Selling at Morningstar

In related news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.21, for a total value of $220,657.50. Following the sale, the director now directly owns 15,840 shares in the company, valued at approximately $4,660,286.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 8,056 shares of the firm’s stock in a transaction dated 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 directly owns 10,517,257 shares of the company’s stock, valued at approximately $3,217,754,779.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.21, for a total transaction of $220,657.50. Following the completion of the transaction, the director now directly owns 15,840 shares of the company’s stock, valued at approximately $4,660,286.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,941 shares of company stock valued at $19,402,863. Corporate insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new stake in Morningstar during the fourth quarter worth about $29,000. Blue Trust Inc. increased its position in Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after purchasing an additional 85 shares in the last quarter. Crewe Advisors LLC purchased a new position in Morningstar in the second quarter valued at approximately $35,000. DT Investment Partners LLC acquired a new position in Morningstar during the second quarter valued at approximately $36,000. Finally, Acadian Asset Management LLC grew its stake in Morningstar by 73.8% during the second quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after buying an additional 62 shares during the period. 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.