Morningstar (NASDAQ:MORN) Reaches New 12-Month Low – Here’s Why

Morningstar, Inc. (NASDAQ:MORN)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $250.34 and last traded at $278.39, with a volume of 251093 shares. The stock had previously closed at $255.31.

Analyst Ratings Changes

A number of equities analysts have commented on MORN shares. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. BMO Capital Markets cut their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

Morningstar Stock Up 9.0 %

The firm has a fifty day simple moving average of $303.23 and a 200-day simple moving average of $325.19. The company has a market capitalization of $11.92 billion, a P/E ratio of 36.78 and a beta of 1.16. 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 announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.15. The company had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Morningstar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, April 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.65%. Morningstar’s dividend payout ratio (DPR) is presently 21.24%.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total transaction of $1,182,974.40. Following the completion of the transaction, the chairman now directly owns 10,142,694 shares in the company, valued at approximately $3,300,838,335.36. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 59,544 shares of company stock worth $18,770,097. 39.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in Morningstar during the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Morningstar during the fourth quarter valued at approximately $40,000. V Square Quantitative Management LLC boosted its position in Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 46 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Morningstar during the fourth quarter valued at approximately $71,000. 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.