Prudential Financial Inc. Cuts Stake in Validus Holdings Ltd. (VR)
Prudential Financial Inc. lowered its position in Validus Holdings Ltd. (NYSE:VR) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 78,410 shares of the company’s stock after selling 77 shares during the period. Prudential Financial Inc. owned 0.10% of Validus Holdings worth $3,810,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Pacad Investment Ltd. purchased a new stake in shares of Validus Holdings during the first quarter worth about $227,000. BlackRock Group LTD boosted its stake in shares of 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 last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Validus Holdings during the first quarter worth about $727,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Validus Holdings during the first quarter worth about $1,848,000. Finally, Rafferty Asset Management LLC boosted its stake in shares of Validus Holdings by 49.4% in the first quarter. Rafferty Asset Management LLC now owns 11,164 shares of the company’s stock worth $527,000 after buying an additional 3,689 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.
Validus Holdings Ltd. (NYSE:VR) opened at 51.57 on Wednesday. The stock has a market cap of $4.14 billion, a PE ratio of 10.99 and a beta of 0.59. The firm has a 50-day moving average price of $50.46 and a 200-day moving average price of $48.52. Validus Holdings Ltd. has a 12-month low of $41.73 and a 12-month high of $52.39.
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 business earned $574.47 million during the quarter, compared to analysts’ expectations of $576.08 million. Validus Holdings had a return on equity of 8.93% and a net margin of 16.72%. During the same period in the prior year, the company posted $1.16 earnings per share. Analysts forecast that Validus Holdings Ltd. will post $4.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, September 13th. Validus Holdings’s dividend payout ratio is currently 29.72%.
A number of analysts have recently issued reports on VR shares. JPMorgan Chase & Co. started coverage on Validus Holdings in a report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 target price for the company. Zacks Investment Research cut Validus Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th.
In other news, CEO Kean Driscoll sold 4,151 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $51.72, for a total transaction of $214,689.72. Following the completion of the sale, the chief executive officer now directly owns 133,898 shares of the company’s stock, valued at approximately $6,925,204.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Greenberg sold 54,872 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $49.47, for a total value of $2,714,517.84. Following the sale, the director now directly owns 3,027 shares of the company’s stock, valued at $149,745.69. The disclosure for this sale can be found here. 4.19% of the stock is owned by corporate insiders.
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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