Tags: verisk | insur | earns

Verisk Shares Jump as Profit Tops Estimates

Wednesday, 29 Feb 2012 05:42 PM

Shares of Verisk Analytics Inc., the supplier of actuarial data to insurers and mortgage lenders, jumped the most since November as fourth-quarter profit climbed, beating analysts’ estimates.

Verisk advanced 3.1 percent to $43.50 at 4:00 p.m. Wednesday in New York, the biggest increase since Nov. 30. The Jersey City, New Jersey-based company has gained about 36 percent in the past 12 months.

Net income rose 22 percent to $80.3 million, or 47 cents a share, in the quarter from $65.9 million, or 37 cents, a year earlier, the data provider said late yesterday in a statement. Operating income was 50 cents a share, beating by 6 cents the average estimate of seven analysts surveyed by Bloomberg.

Chief Executive Officer Frank Coyne has been making acquisitions to extend sales to the health-care industry. The company bought Health Risk Partners LLC for $60 million in June to market its products to clients that serve Medicare and Medicaid patients, and purchased Bloodhound Technologies Inc. in April for $82 million to add sales to commercial health plans.

Verisk benefits from “a large, recurring revenue base with high customer retention, and robust cash flow,” Standard & Poor’s said in a statement last month.

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