Validus Holdings, Ltd. (NYSE:VR) announced a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Investors of record on Friday, September 15th will be given a dividend of 0.38 per share by the insurance provider on Friday, September 29th. This represents a $1.52 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 14th.
Validus Holdings has raised its dividend by an average of 5.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Validus Holdings has a payout ratio of 42.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Validus Holdings to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 38.0%.
Validus Holdings (VR) traded down 0.60% during midday trading on Wednesday, reaching $48.14. The company had a trading volume of 58,250 shares. Validus Holdings has a 52 week low of $41.15 and a 52 week high of $58.76. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 13.28 and a beta of 0.65. The firm has a 50-day moving average price of $51.45 and a 200-day moving average price of $53.67.
Validus Holdings (NYSE:VR) last issued its earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $675.27 million during the quarter, compared to the consensus estimate of $922.84 million. Validus Holdings had a net margin of 11.81% and a return on equity of 7.75%. During the same quarter in the prior year, the firm posted $0.66 EPS. Analysts expect that Validus Holdings will post $3.63 EPS for the current fiscal year.
In other news, Director Matthew J. Grayson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were 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 of the company’s stock, valued at $2,728,454.37. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew J. Grayson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $52.67, for a total transaction of $1,580,100.00. Following the transaction, the director now directly owns 61,393 shares in the company, valued at $3,233,569.31. The disclosure for this sale can be found here. 2.33% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Validus Holdings stock. The Manufacturers Life Insurance Company lifted its stake in shares of Validus Holdings, Ltd. (NYSE:VR) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,382 shares of the insurance provider’s stock after acquiring an additional 219 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Validus Holdings were worth $124,000 at the end of the most recent reporting period. Institutional investors own 94.80% of the company’s stock.
VR has been the subject of several recent analyst reports. ValuEngine raised shares of Validus Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. BidaskClub raised shares of Validus Holdings from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research raised shares of Validus Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Keefe, Bruyette & Woods set a $55.00 price objective on shares of Validus Holdings and gave the company a “hold” rating in a report on Thursday, August 17th. Finally, Buckingham Research initiated coverage on shares of Validus Holdings in a report on Monday. They set a “buy” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Validus Holdings presently has a consensus rating of “Hold” and an average target price of $56.29.
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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