Validus Holdings Ltd. (VR) Sees Strong Trading Volume
Validus Holdings Ltd. (NYSE:VR) saw an uptick in trading volume on Thursday . 362,242 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 423,328 shares.The stock last traded at $48.45 and had previously closed at $48.11.
Several brokerages recently commented on VR. Zacks Investment Research lowered shares of Validus Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. JPMorgan Chase & Co. began coverage on shares of Validus Holdings in a research report on Tuesday, June 28th. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, Bank of America Corp. raised shares of Validus Holdings from an “underperform” rating to a “neutral” rating in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $52.25.
The stock has a 50-day moving average of $47.54 and a 200 day moving average of $46.11. The firm has a market capitalization of $3.95 billion and a PE ratio of 11.26.
Validus Holdings (NYSE:VR) last released its earnings results on Friday, April 29th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.18. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $560.34 million. Validus Holdings’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 earnings per share. Equities analysts forecast that Validus Holdings Ltd. will post $4.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%.
In other Validus Holdings news, CAO Patrick Boisvert sold 1,500 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $48.00, for a total transaction of $72,000.00. Following the sale, the chief accounting officer now directly owns 2,413 shares in the company, valued at approximately $115,824. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lixin Zeng sold 4,887 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $48.36, for a total transaction of $236,335.32. Following the sale, the chief executive officer now owns 36,607 shares in the company, valued at $1,770,314.52. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in VR. California State Teachers Retirement System raised its stake in Validus Holdings by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 161,720 shares of the company’s stock worth $7,486,000 after buying an additional 2,512 shares during the period. First Trust Advisors LP raised its stake in Validus Holdings by 3.9% in the fourth quarter. First Trust Advisors LP now owns 232,885 shares of the company’s stock worth $10,780,000 after buying an additional 8,824 shares during the period. Rhumbline Advisers raised its stake in Validus Holdings by 1.4% in the fourth quarter. Rhumbline Advisers now owns 59,133 shares of the company’s stock worth $2,737,000 after buying an additional 792 shares during the period. California Public Employees Retirement System raised its stake in Validus Holdings by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 275,950 shares of the company’s stock worth $12,774,000 after buying an additional 9,800 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Validus Holdings by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 335,562 shares of the company’s stock worth $15,533,000 after buying an additional 2,052 shares during the period.
Validus Holdings, Ltd. is a holding company. The Company, through its subsidiaries, is engaged in the global insurance and reinsurance. The Company operates in four segments: Validus Re, AlphaCat, Talbot and Western World. Validus Re is a Bermuda-based reinsurance segment focused on short tail lines of reinsurance.
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