Robeco Institutional Asset Management B.V. Has $226.60 Million Stake in VeriSign, Inc. $VRSN
by Mitch Edgeman · The Markets DailyRobeco Institutional Asset Management B.V. reduced its holdings in VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 932,690 shares of the information services provider’s stock after selling 32,910 shares during the period. Robeco Institutional Asset Management B.V. owned 1.01% of VeriSign worth $226,597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC increased its stake in shares of VeriSign by 112.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of VeriSign during the 3rd quarter worth about $29,000. Sunbelt Securities Inc. boosted its holdings in shares of VeriSign by 429.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after buying an additional 103 shares during the period. North Capital Inc. boosted its holdings in VeriSign by 239.0% in the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in VeriSign in the 4th quarter valued at about $39,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on VRSN. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Citigroup boosted their price objective on shares of VeriSign from $280.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Weiss Ratings raised shares of VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.00.
View Our Latest Report on VeriSign
Insider Buying and Selling at VeriSign
In other VeriSign news, EVP Thomas C. Indelicarto sold 498 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $274.00, for a total transaction of $136,452.00. Following the completion of the sale, the executive vice president directly owned 38,700 shares in the company, valued at $10,603,800. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total value of $496,560.00. Following the sale, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,490 shares of company stock valued at $2,353,618 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.
VeriSign Price Performance
NASDAQ VRSN opened at $259.93 on Friday. The business has a fifty day moving average price of $238.05 and a two-hundred day moving average price of $247.16. VeriSign, Inc. has a fifty-two week low of $208.86 and a fifty-two week high of $310.60. The stock has a market capitalization of $23.84 billion, a PE ratio of 29.50 and a beta of 0.70.
VeriSign (NASDAQ:VRSN – Get Free Report) last released its earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.The business had revenue of $425.30 million for the quarter, compared to the consensus estimate of $424.04 million. During the same quarter in the previous year, the company earned $2.00 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.
VeriSign Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were paid a dividend of $0.81 per share. The ex-dividend date was Thursday, February 19th. This is a boost from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 annualized dividend and a yield of 1.2%. VeriSign’s dividend payout ratio is currently 36.78%.
VeriSign Company Profile
VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.
In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.
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