Morningstar (NASDAQ:MORN) Hits New 52-Week High - What's Next?

Morningstar, Inc. (NASDAQ:MORN - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $365.00 and last traded at $356.27, with a volume of 17124 shares. The stock had previously closed at $352.91.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Redburn Atlantic downgraded shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 price target on the stock. in a report on Wednesday, October 9th. BMO Capital Markets reiterated an "outperform" rating and set a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a report on Thursday. Finally, UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $360.67.

Morningstar Stock Up 0.7 %

The company's 50 day moving average price is $343.52 and its two-hundred day moving average price is $319.33. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market cap of $15.25 billion, a PE ratio of 46.62 and a beta of 1.19.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.01). The company had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.455 per share. 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. The ex-dividend date is Friday, October 3rd. Morningstar's dividend payout ratio (DPR) is presently 24.04%.

Insider Activity at Morningstar

In other 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 completion of the transaction, the chief financial officer now directly owns 17,304 shares in the company, valued at approximately $6,106,235.52. This represents a 15.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the company's stock in a transaction 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 sale, the chairman now directly owns 10,738,224 shares in the company, valued at approximately $3,814,431,929.28. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,411 shares of company stock worth $17,961,104. 39.90% of the stock is owned by corporate insiders.

Institutional Trading of Morningstar

Several hedge funds have recently made changes to their positions in MORN. Massachusetts Financial Services Co. MA increased its stake in Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider's stock worth $383,489,000 after acquiring an additional 102,206 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Morningstar by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 950,512 shares of the business services provider's stock valued at $303,327,000 after purchasing an additional 5,158 shares during the last quarter. State Street Corp raised 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 valued at $256,666,000 after buying an additional 28,698 shares during the period. Wasatch Advisors LP lifted its position in Morningstar by 13.9% in the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider's stock worth $222,115,000 after buying an additional 85,098 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Morningstar by 2.1% during the third quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider's stock worth $158,772,000 after buying an additional 10,437 shares during the period. 57.02% of the stock is currently owned by hedge funds and other 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.