Morningstar (NASDAQ:MORN) Sets New 52-Week High After Dividend Announcement

Morningstar, Inc. (NASDAQ:MORN)’s stock price hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $361.10 and last traded at $361.10, with a volume of 4199 shares traded. The stock had previously closed at $357.07.

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

Analysts Set New Price Targets

MORN has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and set a $352.00 target price on shares of Morningstar in a research report on Wednesday, August 28th. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a research note on Monday, December 2nd. Finally, Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Trading Up 0.3 %

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 47.29 and a beta of 1.19. The business has a 50-day moving average of $339.65 and a two-hundred day moving average of $316.99.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were 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 owns 12,840 shares in the company, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 8,056 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $305.95, for a total value of $2,464,733.20. Following the transaction, the chairman now directly owns 10,517,257 shares in the company, valued at $3,217,754,779.15. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,244 shares of company stock worth $19,288,505. Corporate insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

Several large investors have recently bought and sold shares of the business. Millennium Management LLC raised its position 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 worth $94,727,000 after purchasing an additional 194,122 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Morningstar by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after acquiring an additional 102,206 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Morningstar by 13.9% in the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after acquiring an additional 85,098 shares during the last quarter. Boston Financial Mangement LLC bought a new stake in shares of Morningstar during the 3rd quarter worth approximately $19,666,000. Finally, FMR LLC lifted its stake in Morningstar by 10.9% in the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock valued at $127,814,000 after acquiring an additional 39,263 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

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.