Verisk Analytics Inc. (VRSK), the supplier of actuarial and risk data to lenders and insurers, jumped the most since October after fourth-quarter earnings beat analysts’ estimates on increased health-care revenue.
Verisk climbed 7.7 percent to close at a record-high $58.05 in New York, the top performance in the Russell 1000 Producer Durables Index. The Jersey City, New Jersey-based firm has gained 14 percent this year, compared with the 8.7 percent advance of the 138-company index.
Net income increased 22 percent to $98.3 million in the quarter, up from $80.3 million a year earlier, Verisk said yesterday in a statement. Operating profit, which excludes some items, was 63 cents a share, beating the 54-cent average estimate of 12 analysts in a Bloomberg survey. Revenue from the firm’s health-care unit increased 89 percent to $72.8 million.
“Verisk saw high demand for its payment accuracy fraud solutions” in its health-care division, William Warmington Jr., an analyst at Raymond James & Associates Inc., wrote in a note yesterday. He rates the shares outperform.
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