Morningstar, Inc. Declares Quarterly Dividend of $0.41 (NASDAQ:MORN)

Morningstar, Inc. (NASDAQ:MORN) declared a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Shareholders of record on Friday, October 4th will be given a dividend of 0.405 per share by the business services provider on Thursday, October 31st. This represents a $1.62 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, October 4th.

Morningstar has decreased its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Morningstar has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings.

Morningstar Stock Performance

Shares of MORN stock opened at $316.50 on Wednesday. The stock has a market cap of $13.53 billion, a PE ratio of 63.94 and a beta of 1.18. The stock has a 50-day moving average of $313.15 and a 200-day moving average of $303.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05. Morningstar has a one year low of $219.45 and a one year high of $330.22.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. The firm 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%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th.

Insider Buying and Selling

In other news, Director William M. Lyons sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the transaction, the director now owns 13,590 shares in the company, valued at $4,300,963.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Morningstar news, Chairman Joseph D. Mansueto sold 8,056 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $305.95, for a total value of $2,464,733.20. Following the sale, the chairman now owns 10,517,257 shares in the company, valued at approximately $3,217,754,779.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Lyons sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $316.48, for a total value of $237,360.00. Following the transaction, the director now directly owns 13,590 shares of the company’s stock, valued at approximately $4,300,963.20. The disclosure for this sale can be found here. In the last three months, insiders sold 59,541 shares of company stock valued at $18,399,192. 39.90% of the stock is owned by corporate insiders.

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.