Validus Holdings Ltd. (VR) Sees Unusually-High Trading Volume
Shares of Validus Holdings Ltd. (NYSE:VR) saw unusually-strong trading volume on Thursday . Approximately 362,242 shares changed hands 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 equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Validus Holdings from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Saturday, April 2nd. Bank of America Corp. upgraded shares of Validus Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday, May 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Validus Holdings in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $52.25.
The company’s 50-day moving average price is $47.56 and its 200-day moving average price is $46.13. The company has a market cap of $3.97 billion and a price-to-earnings ratio of 11.30.
Validus Holdings (NYSE:VR) last posted its quarterly earnings data on Friday, April 29th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $560.34 million. During the same quarter in the previous year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts expect that Validus Holdings Ltd. will post $4.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 2.88%.
In other news, EVP Andrew E. Kudera sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $46.72, for a total transaction of $467,200.00. Following the transaction, the executive vice president now owns 39,093 shares in the company, valued at approximately $1,826,424.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lixin Zeng sold 4,887 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $48.36, for a total transaction of $236,335.32. Following the transaction, the chief executive officer now owns 36,607 shares in the company, valued at approximately $1,770,314.52. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of VR. Suntrust Banks Inc. raised its stake in shares of Validus Holdings by 108.9% in the fourth quarter. Suntrust Banks Inc. now owns 34,122 shares of the company’s stock valued at $1,579,000 after buying an additional 17,786 shares during the period. GSA Capital Partners LLP raised its stake in shares of Validus Holdings by 175.3% in the fourth quarter. GSA Capital Partners LLP now owns 34,965 shares of the company’s stock valued at $1,619,000 after buying an additional 22,266 shares during the period. Rhumbline Advisers raised its stake in shares of Validus Holdings by 1.4% in the fourth quarter. Rhumbline Advisers now owns 59,133 shares of the company’s stock valued at $2,737,000 after buying an additional 792 shares during the period. Marshall Wace LLP raised its stake in shares of Validus Holdings by 119.7% in the fourth quarter. Marshall Wace LLP now owns 99,859 shares of the company’s stock valued at $4,622,000 after buying an additional 54,402 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Validus Holdings by 3.9% in the fourth quarter. First Trust Advisors LP now owns 232,885 shares of the company’s stock valued at $10,780,000 after buying an additional 8,824 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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