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

Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Tuesday, June 18th, Wall Street Journal reports. Shareholders of record on Friday, July 12th will be paid 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 yield of 0.55%. The ex-dividend date of this dividend is Friday, July 12th.

Morningstar has decreased its dividend by an average of 0.3% annually over the last three years and has raised its dividend every year for the last 15 years. Morningstar has a payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings.

Morningstar Stock Performance

Shares of MORN opened at $296.23 on Thursday. Morningstar has a 12 month low of $198.75 and a 12 month high of $316.05. The stock has a fifty day moving average price of $294.30 and a 200-day moving average price of $292.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.66. The firm has a market cap of $12.66 billion, a PE ratio of 59.84 and a beta of 1.17.

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

Insider Transactions at Morningstar

In other Morningstar news, CFO Jason Dubinsky sold 3,400 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $300.11, for a total value of $1,020,374.00. Following the completion of the sale, the chief financial officer now directly owns 20,181 shares of the company’s stock, valued at approximately $6,056,519.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Jason Dubinsky sold 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $300.11, for a total transaction of $1,020,374.00. Following the completion of the sale, the chief financial officer now owns 20,181 shares in the company, valued at approximately $6,056,519.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $289.07, for a total transaction of $216,802.50. Following the sale, the director now directly owns 16,590 shares in the company, valued at approximately $4,795,671.30. The disclosure for this sale can be found here. Insiders sold 77,952 shares of company stock valued at $23,001,340 over the last 90 days. 37.70% of the stock is currently 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.