Morningstar (NASDAQ:MORN) Announces Earnings Results, Beats Expectations By $0.37 EPS

Morningstar (NASDAQ:MORN) posted its quarterly earnings data on Thursday. The business services provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.37, FiscalAI reports. The company had revenue of $641.10 million during the quarter, compared to analysts’ expectations of $634.43 million. Morningstar had a return on equity of 25.07% and a net margin of 15.70%.

Morningstar Price Performance

MORN stock traded down $1.34 during trading on Thursday, reaching $154.01. The company’s stock had a trading volume of 1,403,076 shares, compared to its average volume of 558,702. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $207.02 and its 200-day moving average is $226.39. The company has a market capitalization of $6.33 billion, a P/E ratio of 17.52 and a beta of 1.08. Morningstar has a 1 year low of $149.08 and a 1 year high of $330.55.

Morningstar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 2nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, October 2nd. Morningstar’s dividend payout ratio is presently 22.75%.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $210.89, for a total transaction of $1,528,952.50. Following the completion of the sale, the chairman owned 8,609,667 shares in the company, valued at approximately $1,815,692,673.63. This trade represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 49,674 shares of company stock valued at $9,604,948 over the last three months. Corporate insiders own 36.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC bought a new stake in shares of Morningstar during the third quarter valued at approximately $26,000. Osterweis Capital Management Inc. purchased a new stake in Morningstar in the 2nd quarter worth $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 34 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Morningstar by 278.2% during the first quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 153 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Morningstar by 77.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 508 shares of the business services provider’s stock worth $110,000 after purchasing an additional 221 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MORN has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Morningstar in a research report on Monday, December 29th. UBS Group decreased their price target on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $250.00 price objective on shares of Morningstar in a research report on Thursday, October 30th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.