Morningstar (NASDAQ:MORN) Sets New 52-Week High - Should You Buy?

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $349.25 and last traded at $348.83, with a volume of 29720 shares traded. The stock had previously closed at $343.27.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. StockNews.com cut shares of Morningstar from a "buy" rating to a "hold" rating in a research note on Thursday. Redburn Atlantic cut shares of 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. Finally, UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They set a "buy" rating and a $390.00 price target on the stock. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Morningstar currently has a consensus rating of "Moderate Buy" and a consensus target price of $360.67.

Morningstar Price Performance

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 company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 46.04 and a beta of 1.18. The stock's 50-day simple moving average is $325.34 and its two-hundred day simple moving average is $309.16.

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

Morningstar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar's dividend payout ratio is currently 21.40%.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 5,149 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $305.30, for a total transaction of $1,571,989.70. Following the transaction, the chairman now directly owns 10,610,555 shares in the company, valued at $3,239,402,441.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Joseph D. Mansueto sold 5,257 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $310.37, for a total value of $1,631,615.09. Following the transaction, the chairman now directly owns 10,599,799 shares in the company, valued at approximately $3,289,859,615.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 5,149 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $305.30, for a total value of $1,571,989.70. Following the completion of the sale, the chairman now owns 10,610,555 shares in the company, valued at $3,239,402,441.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,492 shares of company stock valued at $19,430,128 in the last 90 days. 39.90% of the stock is owned by insiders.

Institutional Trading of Morningstar

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in shares of Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider's stock valued at $94,727,000 after buying an additional 194,122 shares during the period. M&G Plc acquired a new position in Morningstar during the 1st quarter worth approximately $52,293,000. Boston Financial Mangement LLC acquired a new position in Morningstar during the 3rd quarter worth approximately $19,666,000. Assenagon Asset Management S.A. purchased a new stake in shares of Morningstar in the 2nd quarter valued at approximately $9,366,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Morningstar in the 1st quarter valued at $9,070,000. Hedge funds and other institutional investors own 57.02% of the company's stock.

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.

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