Elizabeth Mann, the Chief Financial Officer of Verisk Analytics, Inc. (NASDAQ:VRSK), recently sold 200 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $271.33 each, amounting to a total transaction value of $54,266.
Following this sale, Mann holds 15,808 shares of Verisk Analytics. The transaction was executed under a 10b5-1 plan, which Mann established on December 15, 2023. This type of plan allows company insiders to set up a predetermined schedule for trading company stock, providing an opportunity to sell shares at regular intervals regardless of any material nonpublic information they may possess at the time of the trades.
In other recent news, Verisk's Extreme Event Solutions group estimates that insured losses from Hurricane Helene in the U.S. will range between $6 billion and $11 billion. The hurricane, recorded as the strongest to hit Florida's Big Bend region, caused extensive damage, leading to significant insured loss estimates. In other developments, Verisk has expanded its digital trading platform, Whitespace, to the U.S. market, aiming to streamline the placement of (re)insurance business and improve operational efficiency.
The company has also reported a year-over-year revenue increase of 6.2% to $717 million in its Q2 2024 results, primarily driven by an 8.3% increase in subscription revenue. Analysts from firms such as Evercore ISI, Baird, Deutsche Bank, BMO Capital Markets, and Jefferies have been closely following Verisk's performance, providing various ratings and price targets.
These are recent developments in Verisk's operations and financial performance. The company has also initiated a $150 million accelerated share repurchase program, demonstrating its commitment to returning capital to shareholders.
InvestingPro Insights
While Elizabeth Mann's recent stock sale might raise eyebrows, a closer look at Verisk Analytics' financials reveals a company with strong fundamentals. According to InvestingPro data, Verisk boasts a market capitalization of $38.51 billion and impressive gross profit margins of 67.91% for the last twelve months as of Q2 2024. This aligns with one of the InvestingPro Tips, which highlights Verisk's "impressive gross profit margins."
The company's financial health is further underscored by its revenue growth of 8.12% over the same period, reaching $2.78 billion. This solid performance is reflected in the stock's year-to-date total return of 13.38%, outpacing many market benchmarks.
Investors should note that Verisk has raised its dividend for 5 consecutive years, as pointed out by another InvestingPro Tip. The current dividend yield stands at 0.58%, with a robust dividend growth rate of 14.71% over the last twelve months. This consistent dividend increase demonstrates the company's commitment to shareholder returns and confidence in its financial stability.
For those interested in a deeper dive into Verisk's potential, InvestingPro offers 12 additional tips, providing a comprehensive analysis of the company's financial position and market performance. These insights can be particularly valuable for investors looking to contextualize insider transactions like Mann's recent sale within the broader picture of Verisk's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.