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

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

Other research analysts also recently issued research reports about the company. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research note on Wednesday, October 9th. UBS Group initiated coverage on Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. 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

NASDAQ MORN opened at $327.07 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 43.21 and a beta of 1.20. The company has a 50 day simple moving average of $342.39 and a 200-day simple moving average of $326.08. Morningstar has a 52-week low of $269.51 and a 52-week high of $365.00.

Morningstar (NASDAQ:MORN) last released its earnings results 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 company had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.455 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is currently 24.04%.

Insider Activity

In other Morningstar news, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the transaction, the chief financial officer now owns 17,304 shares in the company, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $355.22, for a total transaction of $3,219,003.64. Following the completion of the transaction, the chairman now directly owns 10,738,224 shares in the company, valued at approximately $3,814,431,929.28. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,661 shares of company stock valued at $17,723,744. Insiders own 37.70% of the company’s stock.

Institutional Investors Weigh In On Morningstar

A number of hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Morningstar in the third quarter worth about $30,000. Venturi Wealth Management LLC increased its position in Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock worth $39,000 after buying an additional 61 shares during the period. Acadian Asset Management LLC increased its position in Morningstar by 73.8% in the 2nd 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. Farther Finance Advisors LLC lifted its holdings in shares of Morningstar by 93.6% during the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock worth $58,000 after buying an additional 88 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Morningstar in the third quarter valued at approximately $58,000. 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.