October 5, 2023 – NorthCrest Asset Management LLC recently decreased its holdings in Verisk Analytics, Inc. (NASDAQ:VRSK) by 12.7% during the second quarter. According to the company’s Form 13F filing with the Securities and Exchange Commission, it sold 857 shares, resulting in a total of 5,888 shares currently owned by NorthCrest Asset Management LLC. These holdings are valued at approximately $1,331,000 as of their most recent filing.
Verisk Analytics is a business services provider specializing in data analytics and risk assessment solutions. The company recently released its quarterly earnings results on August 2nd. During this period, Verisk Analytics reported earnings per share (EPS) of $1.51 for the quarter, surpassing analysts’ consensus estimates of $1.40 by $0.11.
The company generated revenue amounting to $675 million for the quarter, exceeding the consensus estimate of $653.13 million. Verisk Analytics showcased a net margin of 18.64% and an impressive return on equity of 83.76%.
Equities research analysts forecasting future performance anticipate that Verisk Analytics will achieve an earnings per share figure of 5.71 for the current year.
NorthCrest Asset Management LLC’s decision to decrease its position in Verisk Analytics highlights a strategic move within its investment portfolio and may be indicative of market trends or specific factors affecting the stock’s performance.
Investors and industry observers alike will continue to monitor developments surrounding NorthCrest Asset Management LLC’s investment decisions as well as keep a close eye on Verisk Analytics’ upcoming financial reports to gauge future profitability and potential opportunities within this sector.
Please note that this article is based on information available up until October 5th, 2023, and further developments may have occurred since then that could impact the aforementioned companies and figures mentioned above.
For more information on Verisk Analytics and their latest updates, interested parties are encouraged to consult reliable sources and refer to the company’s official reports and statements.
Verisk Analytics Sees Surge in Interest from Hedge Funds and Institutional Investors
Verisk Analytics, a leading business services provider, has seen increased interest from hedge funds and institutional investors in recent months. Notably, Bank Julius Baer & Co. Ltd Zurich saw its holdings in Verisk Analytics skyrocket by 92,326.0% during the second quarter of this year. The bank now owns a staggering 486,928,708 shares of the company’s stock valued at $110,060,496,000.
This surge in interest has also been observed by Morgan Stanley, which raised its holdings in Verisk Analytics by 248.2% during the fourth quarter of last year. Norges Bank also entered the fray with a new position worth $268,659,000 in the same period.
Two Sigma Investments LP and Two Sigma Advisers LP have also made significant investments in Verisk Analytics during the first quarter of this year. Two Sigma Investments LP now owns 858,957 shares of the company’s stock worth $164,799,000 after buying an additional 771,220 shares. Similarly, Two Sigma Advisers LP increased its holdings by a whopping 3,412.2%, now owning 647,331 shares valued at $124,197,000.
These institutional investors collectively hold approximately 90.81% of Verisk Analytics’ stock.
In light of these developments and growing investor interest in Verisk Analytics’ stock performance potential, several brokerages have issued reports on the company. Raymond James increased their target price on shares of Verisk Analytics from $225.00 to $255.00 and assigned an “outperform” rating to the stock back on Thursday August 3rd.
Barclays has also raised their price target on Verisk Analytics to $275.00 and gave it an “overweight” rating while BMO Capital Markets lifted their target price to $238.00 and maintained a “market perform” rating for the company.
Royal Bank of Canada reiterated its “outperform” rating and issued a target price of $250.00. Similarly, Argus started covering Verisk Analytics and assigned it a “buy” rating with a target price as high as $288.00.
Based on the collective rating from six equities research analysts, Verisk Analytics has received a consensus rating of “Moderate Buy” with an average consensus target price of $240.00, according to data from Bloomberg.
In other news, Director Therese M. Vaughan recently made several significant stock transactions. On Tuesday, August 8th, she sold 6,129 shares at an average price of $233.02 per share for a total value of $1,428,179.58. Following this transaction, Vaughan now holds 27,179 shares valued at approximately $6,333,250.58.
On Monday August 21st, Vaughan once again sold 6,500 shares at an average price of $232.45 each and now owns 20,679 shares in the company worth approximately $4,806,833.55.
Overall, insiders have sold 17,241 shares of Verisk Analytics’ stock in the last three months with a total value of $4,026,369.
As for the company’s stock performance itself, Verisk Analytics opened at a trading price of $239.93 on Thursday October 5th.
With a market capitalization of $34.74 billion and a beta coefficient of 0.83 – indicating slightly less volatility than the overall market – Verisk Analytics has positioned itself as an attractive investment option for many institutional investors.
The company’s strong financial performance is highlighted by its price-to-earnings ratio of 72.49 and its price-to-earnings-growth ratio of 3.81.
While it’s important to note that past performance does not guarantee future success in the stock market, Verisk Analytics has certainly garnered attention from both institutional investors and analysts alike. As we move into the final quarter of 2023, it will be interesting to see if the company can continue its positive momentum and deliver on the expectations set by these investors and industry experts.