Validus Holdings Ltd. (VR) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Validus Holdings Ltd. (NYSE:VR) from a hold rating to a buy rating in a research report report published on Saturday morning. The firm currently has $58.00 target price on the stock.
According to Zacks, “Validus Holdings, Ltd., through its principal operating subsidiary Validus Reinsurance, Ltd., is a global provider of short-tail lines of reinsurance including property catastrophe, property pro-rata and property per risk, marine and energy, and other specialty lines. Validus was formed in December following the significant natural catastrophes of 2005 with an experienced management team and an unencumbered capital base of approximately $one billion. “
Separately, JPMorgan Chase & Co. assumed coverage on Validus Holdings in a research note on Tuesday, June 28th. They issued an overweight rating and a $55.00 price target on the stock.
Shares of Validus Holdings (NYSE:VR) opened at 51.64 on Friday. The stock has a market cap of $4.15 billion, a P/E ratio of 11.00 and a beta of 0.59. Validus Holdings has a 52 week low of $41.73 and a 52 week high of $52.39. The stock has a 50 day moving average price of $50.40 and a 200-day moving average price of $48.44.
Validus Holdings (NYSE:VR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.09. The company earned $574.47 million during the quarter, compared to analyst estimates of $576.08 million. Validus Holdings had a net margin of 16.72% and a return on equity of 8.93%. During the same quarter in the previous year, the business posted $1.16 earnings per share. Equities analysts predict that Validus Holdings will post $4.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Tuesday, September 13th. Validus Holdings’s dividend payout ratio (DPR) is currently 29.72%.
In other news, Director Jeffrey W. Greenberg sold 54,872 shares of Validus Holdings stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $49.47, for a total transaction of $2,714,517.84. Following the sale, the director now owns 3,027 shares in the company, valued at $149,745.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E.A. Carpenter sold 9,300 shares of Validus Holdings stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $49.60, for a total value of $461,280.00. Following the sale, the director now owns 281,733 shares in the company, valued at approximately $13,973,956.80. The disclosure for this sale can be found here. Insiders own 4.19% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Validus Holdings during the first quarter worth approximately $227,000. Prudential Financial Inc. boosted its stake in Validus Holdings by 42.5% in the first quarter. Prudential Financial Inc. now owns 78,487 shares of the company’s stock worth $3,704,000 after buying an additional 23,400 shares during the period. BlackRock Group LTD boosted its stake in Validus Holdings by 23.0% in the first quarter. BlackRock Group LTD now owns 71,838 shares of the company’s stock worth $3,390,000 after buying an additional 13,432 shares during the period. JPMorgan Chase & Co. boosted its stake in Validus Holdings by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 1,778,579 shares of the company’s stock worth $83,931,000 after buying an additional 86,465 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Validus Holdings during the first quarter worth approximately $727,000. Institutional investors and hedge funds own 93.59% of the company’s stock.
About Validus Holdings
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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