Morningstar (NASDAQ:MORN) Upgraded at StockNews.com

StockNews.com upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a research note published on Saturday.

MORN has been the topic of a number of other research reports. Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research report on Wednesday, October 9th. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Morningstar has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Price Performance

Shares of NASDAQ MORN opened at $337.67 on Friday. The stock’s 50-day simple moving average is $344.32 and its two-hundred day simple moving average is $323.38. Morningstar has a twelve month low of $269.51 and a twelve month high of $365.00. The firm has a market capitalization of $14.48 billion, a P/E ratio of 44.61 and a beta of 1.19. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data 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 during the quarter.

Morningstar Increases Dividend

The business also recently announced 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 0.54%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s payout ratio is 24.04%.

Insider Buying and Selling

In related news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the transaction, the director now owns 12,840 shares in the company, valued at $4,261,339.20. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Dubinsky sold 3,223 shares of Morningstar stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the sale, the chief financial officer now owns 17,304 shares in the company, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,661 shares of company stock worth $17,723,744 in the last ninety days. 39.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Morningstar

Several institutional investors and hedge funds have recently modified their holdings of MORN. CIBC Asset Management Inc lifted its holdings in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after buying an additional 41 shares during the period. Legacy Advisors LLC boosted its position in shares of Morningstar by 1.6% during the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after purchasing an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV grew its stake in Morningstar by 2.2% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares during the period. George Kaiser Family Foundation raised its holdings in Morningstar by 0.7% in the second quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider’s stock worth $2,276,000 after purchasing an additional 55 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Morningstar by 15.7% during the third quarter. UMB Bank n.a. now owns 413 shares of the business services provider’s stock valued at $132,000 after buying an additional 56 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

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.