Morningstar (NASDAQ:MORN) Given New $370.00 Price Target at BMO Capital Markets

Morningstar (NASDAQ:MORN) had its target price trimmed by BMO Capital Markets from $387.00 to $370.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Separately, StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

Morningstar Stock Up 1.0 %

NASDAQ MORN opened at $302.06 on Monday. The business has a fifty day moving average price of $325.37 and a two-hundred day moving average price of $329.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar has a fifty-two week low of $281.37 and a fifty-two week high of $365.00. The stock has a market capitalization of $12.95 billion, a PE ratio of 39.90 and a beta of 1.20.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.15. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Morningstar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, October 3rd. Morningstar’s dividend payout ratio is presently 21.24%.

Insider Activity

In related news, CFO Jason Dubinsky sold 3,223 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 4,080 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $323.46, for a total value of $1,319,716.80. Following the transaction, the chairman now directly owns 10,072,938 shares of the company’s stock, valued at approximately $3,258,192,525.48. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,641 shares of company stock worth $14,620,537. Insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Morningstar by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock worth $944,144,000 after purchasing an additional 51,598 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after purchasing an additional 102,206 shares during the last quarter. Wellington Management Group LLP grew its holdings in Morningstar by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock worth $363,903,000 after acquiring an additional 130,087 shares during the period. State Street Corp grew its holdings in Morningstar by 3.7% during the 3rd quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock worth $256,666,000 after acquiring an additional 28,698 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after acquiring an additional 85,098 shares during the period. 57.02% of the stock is owned by 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.