Morningstar (NASDAQ:MORN) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, February 20th.
Morningstar (NASDAQ:MORN) opened at $96.55 on Monday. The stock has a market capitalization of $4,106.27, a P/E ratio of 24.69 and a beta of 0.69. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26. Morningstar has a 1 year low of $68.43 and a 1 year high of $103.46.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were given a dividend of $0.25 per share. This is a boost from Morningstar’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Morningstar’s payout ratio is presently 25.58%.
Morningstar declared that its Board of Directors has initiated a stock buyback plan on Friday, December 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Separately, BidaskClub cut Morningstar from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th.
In related news, Director Steven N. Kaplan sold 2,500 shares of Morningstar stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $91.85, for a total transaction of $229,625.00. Following the transaction, the director now owns 44,821 shares of the company’s stock, valued at $4,116,808.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 57.40% of the stock is owned by insiders.
An institutional investor recently raised its position in Morningstar stock. The Manufacturers Life Insurance Company lifted its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. Institutional investors own 38.38% of the company’s stock.
Morningstar Company Profile
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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