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. “
Separately, JPMorgan Chase & Co. started coverage on Validus Holdings in a research note on Tuesday, June 28th. They set an overweight rating and a $55.00 price objective for the company.
Shares of Validus Holdings (NYSE:VR) traded down 0.39% during mid-day trading on Tuesday, reaching $51.37. 38,266 shares of the company’s stock traded hands. The firm has a 50-day moving average of $50.46 and a 200 day moving average of $48.52. Validus Holdings has a 12-month low of $41.73 and a 12-month high of $52.39. The company has a market cap of $4.13 billion, a P/E ratio of 10.94 and a beta of 0.59.
Validus Holdings (NYSE:VR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.09. The company had revenue of $574.47 million for 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. Equities analysts forecast that Validus Holdings will post $4.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.71%. Validus Holdings’s dividend payout ratio (DPR) is 29.72%.
In other Validus Holdings news, CEO Kean Driscoll sold 4,151 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $51.72, for a total value of $214,689.72. Following the sale, the chief executive officer now owns 133,898 shares in the company, valued at $6,925,204.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Greenberg sold 54,872 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $49.47, for a total value of $2,714,517.84. Following the completion of the sale, the director now owns 3,027 shares in the company, valued at approximately $149,745.69. The disclosure for this sale can be found here. Insiders own 4.19% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in VR. Vanguard Group Inc. raised its stake in Validus Holdings by 3.6% in the second quarter. Vanguard Group Inc. now owns 5,754,362 shares of the company’s stock worth $279,604,000 after buying an additional 201,825 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Validus Holdings by 16.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,352,930 shares of the company’s stock worth $211,509,000 after buying an additional 626,711 shares during the last quarter. State Treasurer State of Michigan raised its stake in Validus Holdings by 0.4% in the second quarter. State Treasurer State of Michigan now owns 3,408,643 shares of the company’s stock worth $165,626,000 after buying an additional 14,743 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Validus Holdings by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,082,180 shares of the company’s stock worth $101,166,000 after buying an additional 129,879 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Validus Holdings by 4.4% in the second quarter. JPMorgan Chase & Co. now owns 1,856,643 shares of the company’s stock worth $90,214,000 after buying an additional 78,064 shares during the last quarter. Institutional investors and hedge funds own 93.60% 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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