J. Safra Sarasin Holding AG has significantly reduced its investment in Verisk Analytics, Inc. (NASDAQ: VRSK), cutting its stake by 75.1% during the third quarter of 2023. According to Holdings Channel, the fund now holds 3,243 shares of the business services provider after selling 9,782 shares during this period. By the end of the most recent reporting cycle, J. Safra Sarasin’s holdings in Verisk Analytics were valued at approximately $816,000.
A number of other investment firms have also adjusted their positions in Verisk. AlphaCore Capital LLC established a new stake in the company during the second quarter, valued at around $27,000. Similarly, Osterweis Capital Management Inc. and Spurstone Advisory Services LLC purchased positions worth approximately $28,000 and $29,000, respectively. In an interesting turn, NewSquare Capital LLC increased its holdings in Verisk by 69.0%, now owning 98 shares valued at $31,000 after acquiring an additional 40 shares. Additionally, Hantz Financial Services Inc. raised its position by 62.7%, now holding 109 shares valued at about $34,000. Notably, institutional investors and hedge funds collectively own 90% of Verisk’s stock.
Analysts Adjust Price Targets for Verisk Analytics
Recent evaluations by financial analysts have led to revised price targets for Verisk Analytics. Morgan Stanley decreased its target from $290.00 to $270.00, maintaining an “equal weight” rating as reported on December 17, 2023. Simultaneously, The Goldman Sachs Group lowered its target from $315.00 to $239.00 and assigned a “neutral” rating. JPMorgan Chase & Co. also reduced its price target from $315.00 to $250.00, while Wells Fargo & Company adjusted its target from $334.00 to $300.00.
Investor sentiment appears mixed, with seven analysts rating the stock as a Buy, seven assigning a Hold rating, and three giving it a Sell rating. According to MarketBeat.com, the consensus price target for Verisk Analytics is currently $278.64.
Recent Insider Transactions
In addition to these changes, insider trading activity has been notable. CEO Lee Shavel sold 1,100 shares of the company on November 17, 2023, at an average price of $216.99, yielding a total transaction value of $238,689.00. Following this sale, Shavel retained 77,807 shares, valued at approximately $16,883,340.93, reflecting a 1.39% decrease in his holdings.
Chief Financial Officer Elizabeth Mann also sold 300 shares on December 16, 2023, for an average price of $219.54, amounting to $65,862.00. After this transaction, Mann’s remaining shares total 14,265, valued at about $3,131,738.10, marking a 2.06% decline in her position. Over the past three months, insiders have sold a total of 1,700 shares valued at $369,648.
Current Stock Performance and Financial Overview
As of the latest trading session, shares of Verisk Analytics opened at $216.59, reflecting a 1.1% decrease. The stock has experienced a 12-month low of $196.99 and a high of $322.92. The company boasts a market capitalization of $30.19 billion, with a price-to-earnings ratio of 33.02 and a debt-to-equity ratio of 8.55.
Verisk Analytics reported its earnings results on October 29, 2023, announcing $1.72 earnings per share for the quarter, exceeding analysts’ expectations of $1.70 by $0.02. The firm generated $768.30 million in revenue for the quarter, slightly below estimates of $776.04 million. Year-over-year, Verisk’s revenue increased by 5.9%, up from $1.67 EPS reported in the same quarter last year. Analysts project that Verisk Analytics will achieve $6.63 earnings per share for the current fiscal year.
Verisk Analytics, Inc. operates as a data analytics and decision-support provider, assisting businesses in managing risk across various sectors including insurance, financial services, and government. The company’s comprehensive offerings include predictive models and software that facilitate informed decision-making in underwriting, pricing, claims management, and regulatory compliance.