Validus Holdings, Ltd. (NYSE:VR) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Shareholders of record on Thursday, March 15th will be given a dividend of 0.38 per share by the insurance provider on Thursday, March 29th. This represents a $1.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Wednesday, March 14th.
Validus has increased its dividend by an average of 8.2% per year over the last three years and has increased its dividend every year for the last 3 years. Validus has a payout ratio of -506.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Validus to earn $4.63 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 32.8%.
Shares of Validus (NYSE:VR) opened at $67.70 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. Validus has a 1-year low of $41.15 and a 1-year high of $67.77.
In related news, President Kean Driscoll sold 6,875 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $67.43, for a total transaction of $463,581.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 20,625 shares of company stock valued at $1,102,544. 2.33% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Validus stock. The Manufacturers Life Insurance Company boosted its stake in shares of Validus Holdings, Ltd. (NYSE:VR) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,382 shares of the insurance provider’s stock after buying an additional 219 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Validus were worth $124,000 as of its most recent SEC filing. 98.97% of the stock is owned by hedge funds and other institutional investors.
VR has been the subject of several analyst reports. Buckingham Research downgraded shares of Validus from a “buy” rating to a “neutral” rating in a report on Tuesday, February 13th. Zacks Investment Research reiterated a “strong sell” rating on shares of Validus in a report on Saturday, January 6th. Keefe, Bruyette & Woods downgraded shares of Validus from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. JMP Securities downgraded shares of Validus from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 30th. Finally, Barclays reiterated a “hold” rating and issued a $50.00 target price on shares of Validus in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.80.
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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