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

Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders 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 dividend yield of 0.50%. The ex-dividend date of this dividend is Friday, October 4th.

Morningstar has decreased its dividend by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 15 years. Morningstar has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings.

Morningstar Stock Performance

NASDAQ:MORN traded up $1.52 during mid-day trading on Friday, hitting $322.34. 66,787 shares of the company traded hands, compared to its average volume of 112,761. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $311.52 and its 200-day moving average price is $302.98. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 64.81 and a beta of 1.18. Morningstar has a one year low of $219.45 and a one year high of $330.22.

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

Insider Activity at Morningstar

In other news, Director Caroline J. Tsay sold 290 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $296.98, for a total value of $86,124.20. Following the transaction, the director now owns 3,925 shares of the company’s stock, valued at $1,165,646.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Caroline J. Tsay sold 290 shares of Morningstar stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $296.98, for a total value of $86,124.20. Following the sale, the director now directly owns 3,925 shares of the company’s stock, valued at $1,165,646.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William M. Lyons sold 750 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.21, for a total value of $220,657.50. Following the transaction, the director now directly owns 15,840 shares of the company’s stock, valued at $4,660,286.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,231 shares of company stock valued at $19,488,988. 39.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.