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

Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Friday, June 21st, Wall Street Journal reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.405 per share by the business services provider on Wednesday, July 31st. This represents a $1.62 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, July 12th.

Morningstar has decreased its dividend 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 dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings.

Morningstar Trading Up 1.0 %

Shares of MORN stock opened at $291.27 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.45 billion, a P/E ratio of 58.84 and a beta of 1.16. Morningstar has a 12-month low of $185.15 and a 12-month high of $316.05. The firm has a 50-day moving average price of $293.30 and a 200 day moving average price of $290.40.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.73 earnings per share (EPS) for the quarter. Morningstar had a net margin of 10.13% and a return on equity of 21.79%. The company had revenue of $542.80 million during the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MORN. TheStreet upgraded shares of Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $289.22, for a total value of $2,620,911.64. Following the completion of the sale, the chairman now directly owns 10,648,928 shares of the company’s stock, valued at approximately $3,079,882,956.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Morningstar news, Chairman Joseph D. Mansueto sold 4,804 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $301.10, for a total value of $1,446,484.40. Following the completion of the sale, the chairman now directly owns 10,703,512 shares in the company, valued at $3,222,827,463.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $289.22, for a total value of $2,620,911.64. Following the completion of the transaction, the chairman now owns 10,648,928 shares of the company’s stock, valued at $3,079,882,956.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,512 shares of company stock worth $21,674,184. 39.90% of the stock is owned by 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.