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

Morningstar, Inc. (NASDAQ:MORN) declared a quarterly dividend on Wednesday, September 18th, 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 0.51%. The ex-dividend date 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 every year for the last 15 years. Morningstar has a dividend payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings.

Morningstar Stock Performance

Morningstar stock opened at $318.61 on Thursday. Morningstar has a twelve month low of $219.45 and a twelve 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 company has a market capitalization of $13.62 billion, a P/E ratio of 64.37 and a beta of 1.18. The stock’s 50 day moving average is $313.42 and its 200 day moving average is $303.66.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results 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 firm had revenue of $571.90 million during the quarter.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the transaction, the chairman now owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the transaction, the chairman now directly owns 10,631,706 shares of the company’s stock, valued at approximately $3,217,579,503.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Daniel Joseph Dunn sold 1,600 shares of Morningstar stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total value of $513,424.00. Following the completion of the sale, the executive now directly owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. The disclosure for this sale can be found here. Insiders have sold 59,541 shares of company stock valued at $18,399,192 over the last ninety days. Insiders own 39.90% of the company’s stock.

Analysts Set New Price Targets

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

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.