SG Americas Securities LLC Increases Stock Position in VeriSign, Inc. $VRSN

SG Americas Securities LLC boosted its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 1,163.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,039 shares of the information services provider’s stock after acquiring an additional 70,943 shares during the quarter. SG Americas Securities LLC owned 0.08% of VeriSign worth $18,717,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Salomon & Ludwin LLC grew its stake in shares of 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 acquiring an additional 54 shares during the period. Root Financial Partners LLC purchased a new position in shares of VeriSign during the third quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its position in VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after purchasing an additional 103 shares during the period. North Capital Inc. boosted its holdings in VeriSign by 239.0% in the third quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after purchasing an additional 98 shares during the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in VeriSign in the fourth quarter worth approximately $39,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other VeriSign news, CEO D James Bidzos sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the sale, the chief executive officer directly owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 332 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $240.62, for a total transaction of $79,885.84. Following the completion of the transaction, the executive vice president directly owned 39,696 shares in the company, valued at $9,551,651.52. This trade represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,490 shares of company stock valued at $2,338,621 in the last quarter. 0.84% of the stock is currently owned by company insiders.

VeriSign Stock Down 1.3%

Shares of VRSN opened at $247.48 on Friday. The business has a 50-day simple moving average of $235.59 and a two-hundred day simple moving average of $249.09. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $310.60. The stock has a market cap of $22.69 billion, a price-to-earnings ratio of 28.09 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). The firm had revenue of $425.30 million for the quarter, compared to analysts’ expectations of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. VeriSign’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 EPS.

VeriSign Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 19th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, February 19th. VeriSign’s dividend payout ratio is currently 36.78%.

Analyst Ratings Changes

VRSN has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Zacks Research raised VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Finally, Citigroup dropped their target price on VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a research report 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $292.00.

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.