Morgan held a one-shot lead at the start of Sunday's third round and attempted to put some distance between himself and the rest of the field early in the round.
He birdied the par-five second hole when he two-putted from 90 feet and then added another at the next after he dropped an eight-iron shot inside of 10 feet.
Morgan scored one more front-nine birdie at seven when he hit an eight-iron to seven feet and rolled home the putt.
The back nine for Morgan consisted of early pars until he birdied the 14th after a beautiful nine-iron approach landed four feet from the stick.
Quigley stayed with Morgan the whole afternoon. Like Morgan, Quigley birdied the second hole after blasting out of a bunker to a foot. Quigley also birdied the seventh to keep Morgan within striking distance.
Back-to-back birdies by Quigley at numbers 13 and 14 brought the 53-year-old to within one of the lead, but Morgan took command coming in. He birdied the 16th hole when he wedged a shot to four feet.
Morgan cemented the victory with a birdie at the par-three 17th. He nailed a seven-iron to within three feet of the hole.
'Dana played very well all day,' said Morgan, who pocketed $210,000 for his second career ACE Group title (1998). 'He kept pushing me to be up to snuff. It was a hard fought day. It was back and forth all day and Dana was playing well enough to go forward.'
This marks the first victory of the 2001 campaign for Morgan and his 19th all-time on the Senior Tour. The first-place check pushed Morgan over the $8 million plateau in Senior Tour career earnings.
Quigley posted a final-round 67 for second place.
Stewart Ginn carded a six-under 66 on Sunday and finished at seven-under. The third place finish for Ginn tied his best performance on the elder circuit. Ginn took third at last year's SBC Senior Classic.
Tom Kite's final-round 68 gave him fourth place at minus-six. First-round leader Jose Maria Canizares tied for fifth at five- under with Dave Stockton and Allen Doyle.
Defending champion Lanny Wadkins shot a two-under 70 on Sunday but finished the tournament at three-over. He tied for 43rd, 15 shots behind Morgan.
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