KBC Group NV Sells 244,677 Shares of VeriSign, Inc. $VRSN

Key Points

• KBC Group NV sold 244,677 VeriSign shares in Q4, reducing its stake by 72.5% to 92,730 shares valued at about $22.53 million (roughly 0.10% of the company).
• VeriSign reported Q4 EPS of $2.23, missing estimates by $0.06, while revenue rose 7.6% year‑over‑year to $425.3 million and the company posted a 49.8% net margin.
• The company raised its quarterly dividend to $0.81 (annualized $3.24, yield 1.2%), and analysts hold a consensus "Moderate Buy" rating with an average target of $297.00.

KBC Group NV decreased its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 72.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,730 shares of the information services provider's stock after selling 244,677 shares during the period. KBC Group NV owned about 0.10% of VeriSign worth $22,529,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC increased its holdings in shares of VeriSign by 112.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider's stock worth $28,000 after buying an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of VeriSign in the 3rd quarter worth $29,000. Sunbelt Securities Inc. increased its holdings in shares of VeriSign by 429.2% in 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 last quarter. North Capital Inc. increased its holdings in shares of VeriSign by 239.0% in 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 during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in shares of VeriSign in the 4th quarter worth $39,000. Institutional investors own 92.90% of the company's stock.

VeriSign Stock Performance

VRSN stock opened at $274.05 on Friday. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $310.60. The firm's fifty day moving average is $241.26 and its 200 day moving average is $247.00. The firm has a market cap of $24.97 billion, a P/E ratio of 31.11 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 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The business had revenue of $425.30 million for the quarter, compared to the consensus estimate of $424.04 million. During the same period in the prior year, the business posted $2.00 EPS. VeriSign'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 of this dividend was Thursday, February 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.2%. This is an increase from VeriSign's previous quarterly dividend of $0.77. VeriSign's payout ratio is 36.78%.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 498 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $249.08, for a total transaction of $124,041.84. Following the transaction, the executive vice president owned 30,115 shares of the company's stock, valued at approximately $7,501,044.20. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 2,490 shares of company stock worth $626,690. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on VRSN. JPMorgan Chase & Co. increased their price target on shares of VeriSign from $270.00 to $271.00 and gave the stock a "neutral" rating in a report on Tuesday, January 6th. Zacks Research raised shares of VeriSign from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. Citigroup increased their price target on shares of VeriSign from $280.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Finally, Weiss Ratings raised shares of VeriSign from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $297.00.

About VeriSign

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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