Morningstar (NASDAQ:MORN) Stock Price Down 3.1% – Here’s Why

Morningstar, Inc. (NASDAQ:MORN)’s share price was down 3.1% during mid-day trading on Wednesday . The stock traded as low as $294.45 and last traded at $292.06. Approximately 36,876 shares changed hands during trading, a decline of 71% from the average daily volume of 126,715 shares. The stock had previously closed at $301.51.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Morningstar Trading Down 2.0 %

The company’s 50-day simple moving average is $312.20 and its 200 day simple moving average is $327.89. 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 firm has a market capitalization of $12.66 billion, a PE ratio of 39.17 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating 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 net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $0.455 dividend. The ex-dividend date is Friday, April 4th. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.62%. Morningstar’s dividend payout ratio (DPR) is 21.24%.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 3,635 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $325.44, for a total value of $1,182,974.40. Following the sale, the chairman now owns 10,142,694 shares in the company, valued at $3,300,838,335.36. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 59,544 shares of company stock worth $18,770,097. Insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

Several large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Morningstar by 178.6% in 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 purchased a new stake in shares of Morningstar in the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Morningstar during the fourth quarter worth about $40,000. V Square Quantitative Management LLC grew its holdings 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 worth $47,000 after acquiring an additional 46 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Morningstar in the third quarter valued at approximately $58,000. 57.02% of the stock is owned by hedge funds and other institutional investors.

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.