Morningstar, Inc. (MORN) to Issue Quarterly Dividend of $0.25 on January 31st
Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Monday, December 11th, Wall Street Journal reports. Stockholders of record on Friday, January 5th will be paid a dividend of 0.25 per share by the business services provider on Wednesday, January 31st. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, January 4th. This is a positive change from Morningstar’s previous quarterly dividend of $0.23.
Shares of Morningstar (MORN) opened at $96.94 on Wednesday. Morningstar has a 12 month low of $68.43 and a 12 month high of $99.11. The firm has a market cap of $4,124.11, a price-to-earnings ratio of 24.79 and a beta of 0.77. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.26.
Morningstar announced that its Board of Directors has authorized a stock buyback plan on Friday, December 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A hedge fund recently raised its stake in Morningstar stock. The Manufacturers Life Insurance Company increased its stake in Morningstar, Inc. (NASDAQ:MORN) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. 38.65% of the stock is owned by hedge funds and other institutional investors.
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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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