Morningstar (NASDAQ:MORN) Hits New 1-Year Low - Time to Sell?

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $275.53 and last traded at $275.76, with a volume of 11978 shares traded. The stock had previously closed at $290.42.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday.

Morningstar Price Performance

The business's 50-day simple moving average is $309.72 and its 200 day simple moving average is $327.24. The company has a market capitalization of $11.21 billion, a P/E ratio of 34.79 and a beta of 1.16. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

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

Remove Ads

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $0.455 dividend. This is a positive change from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date is Friday, April 4th. This represents a $1.82 annualized dividend and a dividend yield of 0.70%. Morningstar's dividend payout ratio is 21.24%.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $327.89, for a total value of $562,659.24. Following the transaction, the chairman now owns 10,151,120 shares of the company's stock, valued at approximately $3,328,450,736.80. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 59,544 shares of company stock valued at $18,770,097 over the last three months. Company insiders own 39.90% of the company's stock.

Institutional Investors Weigh In On Morningstar

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Morningstar in the 4th quarter valued at $111,694,000. Balyasny Asset Management L.P. acquired a new position in shares of Morningstar in the fourth quarter worth about $56,584,000. Premier Fund Managers Ltd purchased a new position in shares of Morningstar in the fourth quarter worth approximately $50,694,000. Wellington Management Group LLP raised its holdings in shares of Morningstar by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider's stock valued at $363,903,000 after acquiring an additional 130,087 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Morningstar in the 4th quarter valued at approximately $33,829,000. 57.02% of the stock is owned by institutional investors and hedge funds.

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.