Morningstar, Inc. (MORN) to Issue Quarterly Dividend of $0.41 on October 31st

Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Stockholders of record on Friday, October 4th will be paid 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 0.51%. 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 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 Trading Down 0.8 %

Shares of MORN stock opened at $316.50 on Wednesday. The company has a market capitalization of $13.53 billion, a P/E ratio of 63.94 and a beta of 1.18. Morningstar has a 12-month low of $219.45 and a 12-month high of $330.22. 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 firm has a 50-day moving average price of $313.15 and a 200 day moving average price of $303.55.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share (EPS) 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%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Morningstar news, Director William M. Lyons sold 750 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $311.60, for a total value of $233,700.00. Following the transaction, the director now directly owns 14,340 shares in the company, valued at approximately $4,468,344. The sale 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 1,144 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.03, for a total transaction of $362,682.32. Following the transaction, the chairman now directly owns 10,640,768 shares in the company, valued at approximately $3,373,442,679.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. The disclosure for this sale can be found here. Insiders sold 59,541 shares of company stock worth $18,399,192 in the last quarter. Insiders own 39.90% of the company’s stock.

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.