Verisk Analytics (Verisk Analytics Stock Quote, Chart, News, Analysts, Financials NASDAQ:VRSK) has come a long way in its ten-plus years as a public company, but investors shouldn’t be wary of those share price gains as this company has a huge runway ahead of it. So says portfolio manager Brett Girard of Liberty International Investment.
“I think Verisk is a great company to invest in,” says Girard, chief financial officer at Liberty, who spoke on BNN Bloomberg on Monday. “We bought this back in the beginning of 2019 and we continue to hold it to this day.”
New Jersey-based Verisk is in its 50th year as a predictive analytics business, with the company now boasting over 70 per cent of Fortune 100 companies using its solutions to handle risk assessment. The company has segments in Insurance, Energy and Specialized Markets and Financial Services, with its subscription-based services covering fields such as insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks and ESG themes.
“They’re in the data analytic space, and what they’re doing is they’re helping the actuaries that work at insurance companies figure out how better to price risk. And that’s a really important thing going forward because in the past it’s sort of been statistical tables and a lot of work that was by hand or manually done within calculations of databases and things like that,” Girard said.
“But with Verisk, they’re really taking this to the next level and they’re using new technologies. They’re using artificial intelligence to sort through the big data and they’re doing a great job at it,” Girard said. “Not only do they have exposure to the insurance space but they’re also in the financial space and the oil and gas space.”
Verisk has seen its share price steadily head northwards over the past decade since a blockbuster IPO in 2009, going from $27 per share to as high as $207 by late last year. The stock finished 2020 up 39 per cent but is currently down 13 per cent for 2021.
But Girard sees more growth for the stock as Verisk rides the wave of digital transformation and AI-inspired analytics currently taking place across all industries.
“I think going forward, if you believe that having more data is going to allow companies and individuals to make better decisions, which we do, Verisk is a great way to play that,” Girard said.
“It’s something that you could hold onto for a long period of time, given the tailwinds of this big data migration that we’re seeing,” he said.
With the majority of its revenues coming from subscriptions and manifesting in long-term contracts, Verisk has sailed through the COVID-19 pandemic with relative ease. The company reported its fourth quarter and full year 2020 financials in February where it hit $713 million in Q4 revenue, up 5.4 per cent year-over-year, and $344.0 million in adjusted EBITDA, up 7.9 per cent year-over-year. (All figures in US dollars.)
Excluding items, the company’s fourth quarter adjusted earnings came to $1.27 per share whereas analysts had on average been expecting $1.30 per share.
The 2020 year saw revenues climb 6.8 per cent to $2.785 billion and adjusted EBITDA jump a full 12.4 per cent to $1.377 billion. By segment, Insurance revenue grew by 6.5 per cent over the year to $1.986 billion, Energy and Specialized Markets grew by 13.8 per cent to $641.6 million and Financial Services decreased by 12.0 per cent to $156.7 million. The drop in Financial Services revenue was attributed to pandemic-related lower levels of project spend by Verisk’s bank customers.
“Despite the broader economic challenges the pandemic continues to present, Verisk delivered another year of strong organic constant currency revenue and adjusted EBITDA growth in 2020,” said president and CEO Scott Stephenson in a February 23 press release.
“These results demonstrate the resiliency and stability of our business model, the valuable impact of our technology and insights to customers, and the commitment of our more than 9,000 Verisk teammates to support our customers through an unprecedented period of digital transformation,” Stephenson said.
This year’s pullback in Verisk has made for a buying opportunity, according to Deutsche Bank analyst Ashish Sabadra who in early March raised his rating from “Hold” to “Buy” on the stock with a $196 price target, which at the time of publication represented a projected 12-month return of 17 per cent.
Sabadra said now is an “attractive buying opportunity” on Verisk, which he said has a commanding market position in defensive end markets along with secular tailwinds in digitization.
On Monday, Morgan Stanley kept its “Overweight” rating on Verisk but dropped its target from $216 to $201, implying a 12-month return of 12.5 per cent.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
