Morningstar (NASDAQ:MORN) Now Covered by BMO Capital Markets

Research analysts at BMO Capital Markets began coverage on shares of Morningstar (NASDAQ:MORN) in a report issued on Monday, MarketBeat reports. The brokerage set an “outperform” rating and a $352.00 price target on the business services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 13.53% from the company’s current price.

Morningstar Price Performance

Shares of MORN stock opened at $310.05 on Monday. The firm has a market cap of $13.25 billion, a P/E ratio of 62.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 0.98. Morningstar has a 1-year low of $213.38 and a 1-year high of $330.22. The firm has a fifty day moving average of $301.49 and a two-hundred day moving average of $297.54.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The company had revenue of $571.90 million during the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Insiders Place Their Bets

In other news, CFO Jason Dubinsky sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $300.11, for a total value of $1,020,374.00. Following the transaction, the chief financial officer now directly owns 20,181 shares in the company, valued at approximately $6,056,519.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Joseph D. Mansueto sold 5,234 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $300.00, for a total value of $1,570,200.00. Following the transaction, the chairman now directly owns 10,687,931 shares in the company, valued at approximately $3,206,379,300. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason Dubinsky sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $300.11, for a total transaction of $1,020,374.00. Following the completion of the transaction, the chief financial officer now owns 20,181 shares in the company, valued at $6,056,519.91. The disclosure for this sale can be found here. Insiders sold a total of 62,450 shares of company stock valued at $18,657,629 in the last ninety days. Corporate insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

Several hedge funds have recently bought and sold shares of MORN. Norges Bank bought a new stake in Morningstar in the 4th quarter valued at about $85,814,000. M&G Plc bought a new stake in Morningstar in the 1st quarter valued at about $52,293,000. Wellington Management Group LLP lifted its position in Morningstar by 45.9% in the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock valued at $145,835,000 after purchasing an additional 160,281 shares during the last quarter. Norden Group LLC lifted its position in Morningstar by 3,164.9% in the 1st quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock valued at $39,860,000 after purchasing an additional 125,298 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new position in Morningstar during the 1st quarter valued at about $20,986,000. 57.02% of the stock is currently owned by 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.