Validus Holdings Ltd. (VR) Sets New 52-Week High at $49.12
Validus Holdings Ltd. (NYSE:VR)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $49.12 and last traded at $48.99, with a volume of 131,326 shares trading hands. The stock had previously closed at $48.63.
VR has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Validus Holdings from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. JPMorgan Chase & Co. initiated 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 for the company. Finally, Bank of America Corp. raised shares of Validus Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.25.
The firm has a 50 day moving average price of $47.61 and a 200 day moving average price of $46.19. The firm has a market cap of $4.00 billion and a price-to-earnings ratio of 11.41.
Validus Holdings (NYSE:VR) last issued its quarterly earnings data on Friday, April 29th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The business earned $1 billion during the quarter, compared to analysts’ expectations of $560.34 million. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. On average, equities analysts expect that Validus Holdings Ltd. will post $4.02 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.85%.
In related news, CEO Lixin Zeng sold 4,887 shares of Validus Holdings stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $48.36, for a total transaction of $236,335.32. Following the completion of the transaction, the chief executive officer now directly owns 36,607 shares of the company’s stock, valued at approximately $1,770,314.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Patrick Boisvert sold 1,500 shares of Validus Holdings stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $48.00, for a total transaction of $72,000.00. Following the transaction, the chief accounting officer now directly owns 2,413 shares of the company’s stock, valued at $115,824. The disclosure for this sale can be found here.
A number of large investors recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Validus Holdings by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,907,426 shares of the company’s stock worth $88,299,000 after buying an additional 85,497 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Validus Holdings by 31.6% in the fourth quarter. Jennison Associates LLC now owns 1,335,795 shares of the company’s stock worth $61,834,000 after buying an additional 320,684 shares during the last quarter. 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 worth $4,622,000 after buying an additional 54,402 shares during the last quarter. 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 worth $1,579,000 after buying an additional 17,786 shares during the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Validus Holdings by 43.8% in the fourth quarter. Monarch Partners Asset Management LLC now owns 335,610 shares of the company’s stock worth $15,535,000 after buying an additional 102,251 shares during the last quarter.
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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