Mn Services Vermogensbeheer B.V. Sells 1,900 Shares of VeriSign, Inc. $VRSN

Key Points

• Mn Services Vermogensbeheer B.V. has reduced its stake in VeriSign, Inc. by 5.7%, selling 1,900 shares during the second quarter, now holding 31,700 shares worth approximately $9.15 million.
• VeriSign announced a quarterly dividend of $0.77 per share, translating to an annualized yield of 1.1%, with a dividend payout ratio of 36.75%.
• The company has authorized a stock buyback program of up to $1.11 billion, indicating the board's belief that the stock is undervalued.

Mn Services Vermogensbeheer B.V. reduced its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,700 shares of the information services provider's stock after selling 1,900 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in VeriSign were worth $9,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in VeriSign in the second quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of 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. Rakuten Securities Inc. boosted its stake in shares of VeriSign by 13,000.0% in the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock valued at $33,000 after buying an additional 130 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of VeriSign during the first quarter worth about $34,000. Finally, UMB Bank n.a. increased its stake in shares of VeriSign by 106.5% during the first quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock worth $40,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 92.90% of the company's stock.

VeriSign Trading Down 0.1%

Shares of NASDAQ VRSN traded down $0.40 during midday trading on Tuesday, reaching $282.35. 224,860 shares of the company were exchanged, compared to its average volume of 858,490. The stock has a market cap of $26.37 billion, a P/E ratio of 33.72 and a beta of 0.79. VeriSign, Inc. has a 1 year low of $175.62 and a 1 year high of $310.60. The stock has a fifty day simple moving average of $277.62 and a 200 day simple moving average of $270.64.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The information services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. The business had revenue of $409.90 million for the quarter, compared to analyst estimates of $410.35 million. During the same period in the previous year, the business posted $2.01 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 19th. VeriSign's payout ratio is 36.75%.

VeriSign declared that its board has approved a share repurchase program on Thursday, July 24th that permits the company to repurchase $1.11 billion in shares. This repurchase authorization permits the information services provider to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

VRSN has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of VeriSign from $285.00 to $305.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of VeriSign in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, VeriSign currently has an average rating of "Buy" and an average target price of $277.50.

Insider Activity at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $288.48, for a total transaction of $576,960.00. Following the sale, the chief executive officer owned 476,439 shares in the company, valued at $137,443,122.72. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas C. Indelicarto sold 501 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $282.28, for a total transaction of $141,422.28. Following the transaction, the executive vice president directly owned 35,191 shares of the company's stock, valued at approximately $9,933,715.48. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,706 shares of company stock worth $12,733,269. Corporate insiders own 0.84% of the company's stock.

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.