According to a recent filing with the Securities and Exchange Commission (SEC), Virtue Capital Management LLC has reduced its holdings in Verisk Analytics, Inc. by 14.7% during the second quarter of this year. The institutional investor now owns 2,739 shares of the business services provider’s stock, after selling 473 shares during the period. At the close of the reporting period, Virtue Capital Management LLC’s holdings in Verisk Analytics were valued at approximately $619,000.
Verisk Analytics is a leading provider of data analytics solutions that assist companies in making informed decisions across various industries such as insurance, energy, financial services, and government. The company offers a wide range of proprietary data and advanced analytics to help clients mitigate risk and optimize their operations.
In its most recent earnings report released on August 2nd, Verisk Analytics reported earnings per share (EPS) of $1.51 for the quarter. This exceeded analysts’ consensus estimates by $0.11 per share. The company also demonstrated a net margin of 18.64% and an impressive return on equity of 83.76%. Additionally, Verisk Analytics posted revenue of $675 million during the quarter, surpassing analysts’ expectations of $653.13 million.
The positive earnings results reflect Verisk Analytics’ strong position in the market and its ability to deliver valuable insights to its customers. By leveraging its vast datasets and cutting-edge analytics capabilities, the company is well-equipped to help businesses navigate complex challenges and make informed decisions in an increasingly data-driven world.
Looking ahead, research analysts anticipate that Verisk Analytics will continue to perform well throughout the current year with an expected earnings per share of 5.71 for fiscal year 2023.
As market conditions evolve and businesses face new challenges in an ever-changing landscape, companies like Verisk Analytics play a crucial role in providing reliable data-based solutions that enable organizations to make strategic decisions. With a track record of strong financial performance and a commitment to innovation and technology, Verisk Analytics remains positioned for success in the data analytics industry. As such, it will likely attract continued interest from both institutional and individual investors seeking exposure to this growing market segment.
In conclusion, Virtue Capital Management LLC has recently reduced its holdings in Verisk Analytics, Inc. However, despite this adjustment, the company’s recent earnings report has demonstrated its ability to surpass expectations and deliver solid financial results. With an impressive range of data analytics solutions across multiple industries, Verisk Analytics is poised for continued growth and is well-positioned to meet the evolving needs of its clients in an increasingly data-driven business landscape.
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Increased Hedge Fund Interest and Analyst Reports Point to Potential Growth for Verisk Analytics, Inc.
Verisk Analytics, Inc. (VRSK) has recently experienced notable activity from several hedge funds, indicating increased interest in the company’s stock. Morgan Stanley, for instance, boosted its stake in Verisk Analytics by 248.2% during the fourth quarter of 2023. The financial giant now owns approximately 3,765,708 shares of VRSK stock, which is valued at around $664,346,000 after acquiring an additional 2,684,234 shares.
Norges Bank also entered the picture during the same period as it acquired a new stake in Verisk Analytics worth about $268,659,000. The increase in interest from institutional investors is reflective of growing confidence in the business services provider’s potential for profitability.
Two Sigma Investments LP and Two Sigma Advisers LP are two other hedge funds that increased their stakes in Verisk Analytics during the first quarter of this year. Two Sigma Investments LP saw an impressive boost of 879.0% and now holds around 858,957 shares of VRSK stock worth approximately $164,799,000.
Similarly, Two Sigma Advisers LP experienced significant growth in its stake by 3,412.2%, bringing its total to about 647,331 shares worth $1244 million. These substantial investments indicate a bullish sentiment towards Verisk Analytics and contribute to the overall ownership distribution within the company.
Additionally, Vaughan Nelson Investment Management L.P., entered the market with a new stake worth around $91,795,000 during the first quarter. Including these new acquisitions by institutional investors and existing ones already held before by other institutions have resulted in them holding an overwhelming majority of 90.81% of Verisk Analytics’ stocks.
Analyst reports have also shed light on the performance and outlook of Verisk Analytics. Royal Bank of Canada reiterated an “outperform” rating on VRSK’s stock with a target price set at $250.00, and BMO Capital Markets upgraded their target price from $229.00 to $238.00, issuing a “market perform” rating.
The Goldman Sachs Group increased their target price to $240.00 from $215.00, while Truist Financial raised its target price to $275.00 from $270.00, offering a “buy” rating on the stock. Morgan Stanley also adjusted its target price from $201.00 to $219.00, classifying Verisk Analytics as an “equal weight” investment.
With six analysts giving the stock a hold rating and nine assigning it a buy rating, the aggregated data from Bloomberg.com suggests an average rating of “Moderate Buy,” with an anticipated consensus target price of around $240.
In recent company news, insider Kathy Card Beckles sold 396 shares of Verisk Analytics’ stock in early July at an average price of $222.13 per share, amounting to a total transaction value of approximately $87,963.48. Following the sale’s completion, Beckles now directly owns 7,066 shares valued at around $1,569,570.58.
Furthermore, insider Nicholas Daffan sold 1,516 shares on September 12th for an average price of $244.63 per share, resulting in a total transaction value of roughly $370,859.08. Daffan currently holds 43,151 shares of Verisk Analytics’ stock valued at approximately $10 million.
It is essential to note that insiders collectively sold 17,637 shares over the past ninety days, representing a total value of approximately $4,1140 million in company stocks being traded hands among insiders recently.
On Wednesday morning (27th September), VRSK stock opened at approximately $241.41 per share on the NYSE exchange. Over the last twelve months before this date (September 27, 2023), the stock reached a low of $162.94 and a high of $249.26.
Verisk Analytics’ market capitalization currently stands at around $34.95 billion, with a price-to-earnings (P/E) ratio of 72.93 and a price/earnings-to-growth (PEG) ratio of 3.94. The company has displayed stability with a beta value of 0.83, indicating that the stock’s price responds relatively less compared to changes in the overall market.
Verisk Analytics maintains healthy liquidity ratios, with a current ratio and quick ratio both standing at 1.07, indicating its ability to cover short-term liabilities efficiently. However, the company has a relatively higher debt-to-equity ratio of 9.29, which may need monitoring as it implies higher leverage.
With its strong position in the market and increasing interest from hedge funds and institutional investors, Verisk Analytics appears to have potential for long-term growth and profitability. As per recommendations from various analysts, prospective investors should carefully consider their options before making any investment decisions regarding VRSK stock.
