J. Safra Sarasin Holding AG has significantly reduced its investment in Verisk Analytics, Inc. (NASDAQ: VRSK), selling off 75.1% of its stake during the third quarter of 2023. According to data from Holdings Channel, the firm now holds 3,243 shares after divesting 9,782 shares, valued at approximately $816,000 at the end of the reporting period.
Other institutional investors have also adjusted their positions in Verisk Analytics recently. For instance, AlphaCore Capital LLC acquired a new stake valued at about $27,000 in the second quarter, while Osterweis Capital Management Inc. and Spurstone Advisory Services LLC followed suit with new investments worth $28,000 and $29,000, respectively. Additionally, NewSquare Capital LLC increased its holdings by 69.0%, bringing its total to 98 shares valued at $31,000.
These shifts indicate a growing trend among hedge funds, with institutional investors now owning 90.00% of Verisk’s stock, reflecting the company’s strong position in the market.
Analysts Adjust Price Targets
Recent evaluations from several equity analysts have led to revised price targets for Verisk Analytics. Morgan Stanley lowered its target from $290.00 to $270.00, maintaining an “equal weight” rating. Similarly, the Goldman Sachs Group decreased its estimate from $315.00 to $239.00, aligning with a “neutral” rating.
JPMorgan Chase & Co. also adjusted its target, reducing it from $315.00 to $250.00 while keeping an “overweight” rating. Wells Fargo & Company revised its target from $334.00 to $300.00, maintaining an “overweight” rating as well. Overall, analysts have assigned seven “Buy” ratings, seven “Hold” ratings, and three “Sell” ratings, resulting in an average rating of “Hold” and a consensus price target of $278.64, as reported by MarketBeat.com.
Insider Trading Activity
In addition to these institutional shifts, there has been notable insider trading activity at Verisk Analytics. CEO Lee Shavel sold 1,100 shares on November 17, 2023, at an average price of $216.99, amounting to a total of $238,689.00. Following this transaction, Shavel retains 77,807 shares valued at approximately $16.88 million, reflecting a decrease of 1.39% in his holdings.
CFO Elizabeth Mann also sold 300 shares on December 16, 2023, at an average price of $219.54, which totaled about $65,862.00. Following this sale, Mann owns 14,265 shares valued at approximately $3.13 million, marking a 2.06% decrease in her position. In total, insiders have sold 1,700 shares worth $369,648 in the past three months, constituting 0.46% of the company’s stock.
Current Market Position of Verisk Analytics
As of the latest trading session, shares of Verisk Analytics opened at $216.59. The company has experienced a 12-month low of $196.99 and a high of $322.92. With a market capitalization of approximately $30.19 billion, Verisk maintains a price-to-earnings ratio of 33.02 and a PEG ratio of 3.12.
Verisk Analytics recently reported its earnings for the quarter ending October 29, 2023, revealing earnings per share of $1.72, surpassing analyst expectations of $1.70 by $0.02. The firm’s revenue for the quarter totaled $768.30 million, slightly below the anticipated $776.04 million, but representing a 5.9% increase compared to the previous year.
Overall, analysts predict that Verisk Analytics, Inc. will achieve earnings per share of $6.63 for the current fiscal year, continuing its trend of consistent growth in a competitive market.
Verisk Analytics, Inc. is a leading data analytics and decision-support provider, assisting organizations in assessing and managing risk across various sectors including insurance, reinsurance, financial services, and government. Its extensive product portfolio combines proprietary datasets with analytics platforms to support critical decision-making processes for its clients.
