The Manufacturers Life Insurance Company Has $9.69 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

The Manufacturers Life Insurance Company decreased its stake in VeriSign, Inc. (NASDAQ:VRSN) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,998 shares of the information services provider’s stock after selling 1,554 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of VeriSign worth $9,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its position in VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. grew its holdings in VeriSign by 117.2% during the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after acquiring an additional 109 shares during the period. Rothschild Investment LLC bought a new position in shares of VeriSign in the 2nd quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of VeriSign in the 2nd quarter valued at about $39,000. Finally, Concord Wealth Partners lifted its stake in shares of VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares during the period. 92.90% of the stock is currently owned by institutional investors.

VeriSign Price Performance

NASDAQ VRSN opened at $187.99 on Wednesday. The stock has a market capitalization of $18.07 billion, a P/E ratio of 21.86 and a beta of 0.92. The business has a 50 day simple moving average of $184.70 and a 200 day simple moving average of $180.97. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. The company had revenue of $390.60 million during the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS.

Insider Activity

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the transaction, the executive vice president now owns 34,821 shares of the company’s stock, valued at $6,615,990. This represents a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $1,102,524 in the last three months. Company insiders own 0.84% of the company’s stock.

About VeriSign

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.