Asset Management One Co. Ltd. Has $10.99 Million Stock Holdings in VeriSign, Inc. $VRSN

Asset Management One Co. Ltd. lessened its stake in VeriSign, Inc. (NASDAQ:VRSN) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 38,048 shares of the information services provider’s stock after selling 870 shares during the quarter. Asset Management One Co. Ltd.’s holdings in VeriSign were worth $10,988,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC increased its stake in VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after buying an additional 35 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of VeriSign by 2.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider’s stock worth $382,000 after buying an additional 37 shares during the period. Flputnam Investment Management Co. boosted its holdings in shares of VeriSign by 1.8% during the 1st quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock worth $554,000 after buying an additional 39 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after buying an additional 40 shares during the period. Finally, Cromwell Holdings LLC boosted its holdings in shares of VeriSign by 32.3% during the 1st quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider’s stock worth $44,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on VRSN. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a report on Friday. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a report on Friday. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $287.50.

VeriSign Stock Performance

NASDAQ:VRSN opened at $247.08 on Monday. The company has a 50-day moving average of $273.69 and a 200-day moving average of $274.95. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 28.80 and a beta of 0.79. VeriSign, Inc. has a 52 week low of $175.62 and a 52 week high of $310.60.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. The company had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $2.07 EPS. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th will be given a dividend of $0.77 per share. The ex-dividend date is Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. VeriSign’s dividend payout ratio (DPR) is 35.90%.

VeriSign announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to buyback $1.11 billion in shares. This buyback authorization permits the information services provider to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 501 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $262.92, for a total transaction of $131,722.92. Following the completion of the sale, the executive vice president owned 34,189 shares in the company, valued at $8,988,971.88. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $261.54, for a total transaction of $523,080.00. Following the sale, the chief executive officer owned 460,439 shares of the company’s stock, valued at $120,423,216.06. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,706 shares of company stock valued at $12,451,906 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.