Validus Holdings Ltd. (VR) Sees Unusually-High Trading Volume
Validus Holdings Ltd. (NYSE:VR) shares saw an uptick in trading volume on Friday . 763,095 shares changed hands during trading, an increase of 66% from the previous session’s volume of 458,452 shares.The stock last traded at $50.72 and had previously closed at $50.65.
Several research firms recently weighed in on VR. JPMorgan Chase & Co. began coverage on Validus Holdings in a report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective on the stock. Zacks Investment Research downgraded Validus Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.25.
The company has a market cap of $4.07 billion and a PE ratio of 10.81. The company has a 50-day moving average of $49.81 and a 200 day moving average of $47.48.
Validus Holdings (NYSE:VR) last issued its earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by $0.09. During the same quarter last year, the firm earned $1.16 earnings per share. The business had revenue of $574.47 million for the quarter, compared to analyst estimates of $576.08 million. On average, analysts anticipate that Validus Holdings Ltd. will post $4.00 earnings per share for the current fiscal year.
The company also recently declared 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 is Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.76%.
In other news, CAO Patrick Boisvert sold 1,500 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $48.00, for a total value of $72,000.00. Following the transaction, the chief accounting officer now owns 2,413 shares of the company’s stock, valued at $115,824. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
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.