Morningstar, Inc. (MORN) to Issue Quarterly Dividend of $0.25 on January 31st
Morningstar, Inc. (NASDAQ:MORN) declared a quarterly dividend on Monday, December 11th, Wall Street Journal reports. Investors of record on Friday, January 5th will be given a dividend of 0.25 per share by the business services provider on Wednesday, January 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, January 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.23.
Shares of Morningstar (NASDAQ:MORN) opened at $96.97 on Friday. Morningstar has a 1-year low of $68.43 and a 1-year high of $99.11. The stock has a market capitalization of $4,134.74, a P/E ratio of 36.97 and a beta of 0.78. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26.
In other news, Director Gail S. Landis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $87.00, for a total transaction of $43,500.00. Following the completion of the sale, the director now owns 47,921 shares in the company, valued at $4,169,127. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven N. Kaplan sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $91.85, for a total value of $229,625.00. Following the sale, the director now owns 44,821 shares of the company’s stock, valued at approximately $4,116,808.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,500 shares of company stock valued at $2,224,600. Corporate insiders own 57.40% of the company’s stock.
A hedge fund recently raised its stake in Morningstar stock. The Manufacturers Life Insurance Company increased its holdings in Morningstar, Inc. (NASDAQ:MORN) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,510 shares of the business services provider’s stock after buying an additional 98 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Morningstar were worth $118,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 38.65% of the company’s stock.
Morningstar announced that its Board of Directors has initiated a share repurchase program on Friday, December 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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