Pring Turner Capital Group Inc. raised its stake in shares of Validus Holdings Ltd. (NYSE:VR) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,375 shares of the company’s stock after buying an additional 3,060 shares during the period. Validus Holdings makes up about 4.3% of Pring Turner Capital Group Inc.’s holdings, making the stock its 5th largest position. Pring Turner Capital Group Inc.’s holdings in Validus Holdings were worth $3,274,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Validus Holdings during the second quarter worth approximately $15,431,000. Renaissance Technologies LLC increased its stake in shares of Validus Holdings by 3,577.0% in the first quarter. Renaissance Technologies LLC now owns 261,069 shares of the company’s stock worth $12,320,000 after buying an additional 253,969 shares in the last quarter. First Quadrant L P CA increased its stake in shares of Validus Holdings by 313.3% in the second quarter. First Quadrant L P CA now owns 173,604 shares of the company’s stock worth $8,435,000 after buying an additional 131,604 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Validus Holdings by 6.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,521,517 shares of the company’s stock worth $73,925,000 after buying an additional 92,831 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Validus Holdings by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 1,778,579 shares of the company’s stock worth $83,931,000 after buying an additional 86,465 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.
Shares of Validus Holdings Ltd. (NYSE:VR) traded down 0.54% during trading on Friday, hitting $51.80. The stock had a trading volume of 186,157 shares. The stock has a market capitalization of $4.16 billion, a P/E ratio of 11.04 and a beta of 0.59. The stock’s 50-day moving average is $50.36 and its 200-day moving average is $48.40. Validus Holdings Ltd. has a 12-month low of $41.73 and a 12-month high of $52.39.
Validus Holdings (NYSE:VR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.09. The company earned $574.47 million during the quarter, compared to the consensus estimate of $576.08 million. Validus Holdings had a net margin of 16.72% and a return on equity of 8.93%. During the same quarter last year, the firm posted $1.16 earnings per share. Analysts predict that Validus Holdings Ltd. will post $4.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 2.69%. Validus Holdings’s dividend payout ratio is currently 29.72%.
VR has been the subject of a number of research reports. JPMorgan Chase & Co. started coverage on Validus Holdings in a research report on Tuesday, June 28th. They issued an “overweight” rating and a $55.00 price objective for the company. Zacks Investment Research cut Validus Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th.
In other news, Director Jeffrey W. Greenberg sold 54,872 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $49.47, for a total transaction of $2,714,517.84. Following the completion of the transaction, the director now directly owns 3,027 shares in the company, valued at $149,745.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E.A. Carpenter sold 9,300 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $49.60, for a total transaction of $461,280.00. Following the transaction, the director now owns 281,733 shares of the company’s stock, valued at $13,973,956.80. The disclosure for this sale can be found here. Company insiders own 4.19% of the company’s stock.
About Validus Holdings
Validus Holdings, Ltd. is a holding company. The Company conducts its operations through four operating segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. AlphaCat is an investment advisor managing capital from third parties and the Company in insurance linked securities and other investments in the property catastrophe reinsurance space.
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