Morningstar (NASDAQ:MORN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Morningstar (NASDAQ:MORNFree Report) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Redburn Atlantic raised shares of Morningstar from a neutral rating to an overweight rating and set a $320.00 target price for the company in a report on Monday, October 30th.

Read Our Latest Report on MORN

Morningstar Stock Up 1.1 %

Shares of NASDAQ MORN opened at $281.67 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $12.03 billion, a PE ratio of 170.71 and a beta of 1.16. The firm’s 50-day moving average is $279.36 and its 200-day moving average is $251.53. Morningstar has a 1 year low of $163.28 and a 1 year high of $289.17.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be given a dividend of $0.405 per share. This is a boost from Morningstar’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.58%. Morningstar’s payout ratio is presently 98.18%.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 11,334 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $262.98, for a total transaction of $2,980,615.32. Following the completion of the sale, the chairman now owns 11,471,495 shares in the company, valued at approximately $3,016,773,755.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Morningstar news, Chairman Joseph D. Mansueto sold 11,334 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $262.98, for a total value of $2,980,615.32. Following the completion of the sale, the chairman now owns 11,471,495 shares of the company’s stock, valued at $3,016,773,755.10. The sale 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 9,376 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $262.61, for a total transaction of $2,462,231.36. Following the completion of the sale, the chairman now directly owns 11,482,829 shares of the company’s stock, valued at approximately $3,015,505,723.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,244 shares of company stock worth $27,217,894. Insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

A number of large investors have recently bought and sold shares of the business. Morgan Stanley grew its holdings in shares of Morningstar by 685.1% in the 4th quarter. Morgan Stanley now owns 1,219,174 shares of the business services provider’s stock valued at $264,061,000 after acquiring an additional 1,063,888 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Morningstar by 1,022.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 754,704 shares of the business services provider’s stock valued at $147,975,000 after acquiring an additional 687,459 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Morningstar by 60.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,007,748 shares of the business services provider’s stock valued at $236,055,000 after acquiring an additional 380,391 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Morningstar by 43.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,254,599 shares of the business services provider’s stock valued at $245,989,000 after acquiring an additional 378,671 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Morningstar in the 3rd quarter valued at about $81,798,000. 57.02% of the stock is owned by institutional investors.

About Morningstar

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Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.

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