Philadelphia Financial Management of San Francisco LLC boosted its position in Validus Holdings, Ltd. (NYSE:VR) by 53.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 330,356 shares of the insurance provider’s stock after acquiring an additional 114,671 shares during the quarter. Validus comprises approximately 2.3% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 22nd largest holding. Philadelphia Financial Management of San Francisco LLC’s holdings in Validus were worth $15,500,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation bought a new stake in Validus during the 3rd quarter worth approximately $116,000. The Manufacturers Life Insurance Company increased its holdings in Validus by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,382 shares of the insurance provider’s stock worth $124,000 after purchasing an additional 219 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Validus by 4,598.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,947 shares of the insurance provider’s stock worth $194,000 after purchasing an additional 3,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Validus by 48.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in Validus during the 4th quarter worth approximately $211,000. 98.97% of the stock is owned by institutional investors and hedge funds.
In other news, President Kean Driscoll sold 6,875 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $46.16, for a total value of $317,350.00. Following the transaction, the president now owns 110,858 shares in the company, valued at approximately $5,117,205.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 20,625 shares of company stock worth $1,102,544 in the last 90 days. Company insiders own 2.33% of the company’s stock.
Validus (NYSE:VR) last announced its earnings results on Thursday, February 1st. The insurance provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($1.00). Validus had a negative return on equity of 1.85% and a negative net margin of 1.70%. The business had revenue of $346.88 million during the quarter, compared to analysts’ expectations of $352.00 million. During the same quarter in the previous year, the firm earned $0.80 EPS. Validus’s quarterly revenue was up 16.1% on a year-over-year basis. analysts forecast that Validus Holdings, Ltd. will post 4.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. Validus’s payout ratio is presently -176.74%.
A number of analysts have commented on the company. Keefe, Bruyette & Woods raised Validus from a “market perform” rating to an “outperform” rating in a report on Thursday, January 4th. Barclays reissued a “hold” rating and set a $50.00 price objective on shares of Validus in a report on Tuesday, January 9th. Buckingham Research lowered Validus from a “buy” rating to a “neutral” rating in a report on Tuesday, February 13th. JMP Securities downgraded Validus from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research downgraded Validus from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $52.80.
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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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