Zacks Investment Research upgraded shares of Validus Holdings, Ltd. (NYSE:VR) from a sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Validus Holdings, Ltd., through its principal operating subsidiary Validus Reinsurance, Ltd., is a global provider of short-tail lines of reinsurance including property catastrophe, property pro-rata and property per risk, marine and energy, and other specialty lines. Validus was formed in December following the significant natural catastrophes of 2005 with an experienced management team and an unencumbered capital base of approximately $one billion. “
Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Validus Holdings from a hold rating to a buy rating in a research note on Saturday, June 3rd. Deutsche Bank AG upped their price objective on shares of Validus Holdings from $56.00 to $59.00 and gave the company a hold rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reissued a hold rating and set a $55.00 price objective on shares of Validus Holdings in a research note on Thursday, April 27th. Finally, BidaskClub raised shares of Validus Holdings from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $58.33.
Shares of Validus Holdings (NYSE:VR) opened at 52.03 on Tuesday. The firm has a market cap of $4.12 billion, a P/E ratio of 14.78 and a beta of 0.63. Validus Holdings has a one year low of $45.39 and a one year high of $58.76. The stock’s 50 day moving average is $53.12 and its 200-day moving average is $55.55.
Validus Holdings (NYSE:VR) last announced its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by $0.22. The firm had revenue of $990.80 million for the quarter, compared to analysts’ expectations of $1.03 billion. Validus Holdings had a net margin of 11.88% and a return on equity of 7.05%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 EPS. Analysts anticipate that Validus Holdings will post $3.81 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, June 13th. Validus Holdings’s dividend payout ratio is currently 43.18%.
In other Validus Holdings news, President Kean Driscoll sold 4,151 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $52.93, for a total transaction of $219,712.43. Following the transaction, the president now owns 104,841 shares of the company’s stock, valued at $5,549,234.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew J. Grayson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $53.09, for a total transaction of $530,900.00. Following the transaction, the director now directly owns 51,393 shares in the company, valued at approximately $2,728,454.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,302 shares of company stock worth $4,100,477. 2.33% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Laurel Wealth Advisors Inc. increased its position in Validus Holdings by 0.7% in the first quarter. Laurel Wealth Advisors Inc. now owns 8,310 shares of the insurance provider’s stock worth $468,000 after buying an additional 60 shares in the last quarter. M&T Bank Corp increased its position in Validus Holdings by 1.2% in the first quarter. M&T Bank Corp now owns 10,708 shares of the insurance provider’s stock worth $603,000 after buying an additional 130 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Validus Holdings by 4.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,927 shares of the insurance provider’s stock worth $436,000 after buying an additional 348 shares in the last quarter. Amalgamated Bank increased its position in Validus Holdings by 3.4% in the first quarter. Amalgamated Bank now owns 10,796 shares of the insurance provider’s stock worth $609,000 after buying an additional 350 shares in the last quarter. Finally, Loeb Partners Corp increased its position in Validus Holdings by 1.1% in the first quarter. Loeb Partners Corp now owns 36,100 shares of the insurance provider’s stock worth $2,035,000 after buying an additional 400 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.
Validus Holdings Company Profile
Validus Holdings, Ltd. is a holding company. The Company operates through four segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. Validus Re concentrates on first-party property and other reinsurance risks. Talbot is a specialty insurance segment operating within the Lloyd’s insurance market through Syndicate 1183.
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