Russell Investments Group Ltd. decreased its position in Validus Holdings, Ltd. (NYSE:VR) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,940 shares of the insurance provider’s stock after selling 21,147 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of Validus worth $8,363,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in VR. Federated Investors Inc. PA grew its holdings in Validus by 3.4% in the 2nd quarter. Federated Investors Inc. PA now owns 186,103 shares of the insurance provider’s stock valued at $9,672,000 after buying an additional 6,081 shares during the period. Principal Financial Group Inc. boosted its holdings in Validus by 183.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,655,977 shares of the insurance provider’s stock worth $86,061,000 after acquiring an additional 1,072,405 shares during the period. Airain ltd acquired a new position in shares of Validus in the 2nd quarter valued at approximately $1,437,000. Century Capital Management LLC acquired a new position in shares of Validus in the 2nd quarter valued at approximately $3,043,000. Finally, TLP Group LLC acquired a new position in shares of Validus in the 2nd quarter valued at approximately $329,000. 96.35% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Lixin Zeng sold 26,136 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $52.10, for a total transaction of $1,361,685.60. Following the completion of the sale, the chief executive officer now directly owns 57,855 shares of the company’s stock, valued at approximately $3,014,245.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kean Driscoll sold 6,875 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $50.30, for a total value of $345,812.50. The disclosure for this sale can be found here. 2.33% of the stock is currently owned by corporate insiders.
Validus (NYSE:VR) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported ($3.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.30) by $0.08. The firm had revenue of $407.00 million during the quarter, compared to the consensus estimate of $453.04 million. Validus had a negative return on equity of 0.49% and a negative net margin of 1.38%. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. research analysts forecast that Validus Holdings, Ltd. will post -0.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.22%. The ex-dividend date is Thursday, December 14th. Validus’s dividend payout ratio is currently -233.84%.
Several research firms recently issued reports on VR. BidaskClub lowered Validus from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Zacks Investment Research cut Validus from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods set a $55.00 target price on Validus and gave the company a “hold” rating in a research note on Thursday, August 17th. UBS decreased their target price on Validus from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Finally, ValuEngine downgraded Validus from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Validus presently has a consensus rating of “Hold” and a consensus price target of $54.83.
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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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