VeriSign, Inc. $VRSN Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lessened its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 50.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 15,167 shares of the information services provider’s stock after selling 15,354 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in VeriSign were worth $4,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of VRSN. Salomon & Ludwin LLC lifted its holdings in VeriSign by 112.5% in the third 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 period. Root Financial Partners LLC acquired a new position in VeriSign during the 3rd quarter valued at about $29,000. Sunbelt Securities Inc. raised its position 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 in the last quarter. North Capital Inc. raised its position in shares of VeriSign by 239.0% during the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after buying an additional 98 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of VeriSign by 51.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after acquiring an additional 50 shares during the period. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Up 0.5%

Shares of NASDAQ VRSN opened at $240.78 on Monday. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $310.60. The firm has a 50-day moving average of $235.81 and a two-hundred day moving average of $249.84. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 27.33 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $424.04 million. During the same period in the prior year, the firm earned $2.00 EPS. The business’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. Investors of record on Thursday, February 19th were issued a dividend of $0.81 per share. The ex-dividend date was Thursday, February 19th. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a yield of 1.3%. VeriSign’s payout ratio is 36.78%.

Insider Activity at VeriSign

In other news, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $248.20, for a total transaction of $1,241,000.00. Following the completion of the sale, the chief executive officer directly owned 416,099 shares of the company’s stock, valued at $103,275,771.80. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas C. Indelicarto sold 498 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $231.78, for a total value of $115,426.44. Following the sale, the executive vice president directly owned 40,028 shares of the company’s stock, valued at approximately $9,277,689.84. This represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,490 shares of company stock worth $2,338,621. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VRSN shares. JPMorgan Chase & Co. increased 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. Zacks Research raised VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Finally, Citigroup decreased their price target on VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $292.00.

VeriSign 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.