Validus Holdings Ltd. (VR) Sets New 52-Week High at $50.44
Shares of Validus Holdings Ltd. (NYSE:VR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.44 and last traded at $50.42, with a volume of 71,528 shares traded. The stock had previously closed at $50.23.
Several analysts have issued reports on VR shares. 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. 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 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 note on Monday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Validus Holdings presently has a consensus rating of “Hold” and a consensus target price of $52.25.
The company has a market capitalization of $4.06 billion and a PE ratio of 10.76. The firm’s 50 day moving average is $48.55 and its 200-day moving average is $46.71.
Validus Holdings (NYSE:VR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by $0.09. The firm had revenue of $574.47 million for the quarter, compared to analysts’ expectations of $576.08 million. During the same quarter in the prior year, the company posted $1.16 EPS. On average, analysts expect that Validus Holdings Ltd. will post $4.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.79%.
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.
Other large investors have added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Validus Holdings by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,441,749 shares of the company’s stock worth $66,738,000 after buying an additional 34,039 shares during the period. Morgan Stanley raised its stake in Validus Holdings by 61.3% in the fourth quarter. Morgan Stanley now owns 426,044 shares of the company’s stock worth $19,721,000 after buying an additional 161,933 shares during the period. Suntrust Banks Inc. raised its stake in 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 period. Jennison Associates LLC raised its stake in 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 period. Finally, Marshall Wace LLP raised its stake in 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 period.
Validus Holdings, Ltd. is a holding company. The Company conducts its operations through four operating segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. AlphaCat is an investment advisor managing capital from third parties and the Company in insurance linked securities and other investments in the property catastrophe reinsurance space.
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