Validus Holdings Ltd. (VR) Sets New 1-Year High at $49.73
Validus Holdings Ltd. (NYSE:VR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.73 and last traded at $49.41, with a volume of 219,067 shares changing hands. The stock had previously closed at $49.37.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Validus Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Bank of America Corp. raised shares of Validus Holdings from an “underperform” rating to a “neutral” rating in a report on Monday, May 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Validus Holdings in a report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.25.
The firm has a market cap of $4.02 billion and a price-to-earnings ratio of 11.47. The company’s 50 day moving average is $47.69 and its 200-day moving average is $46.26.
Validus Holdings (NYSE:VR) last released its quarterly earnings results on Friday, April 29th. The company reported $1.39 EPS for the quarter, beating 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. During the same quarter last year, the business posted $1.98 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Validus Holdings Ltd. will post $4.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, June 13th.
In other news, EVP Andrew E. Kudera sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $46.72, for a total value of $467,200.00. Following the completion of the transaction, the executive vice president now directly owns 39,093 shares in the company, valued at $1,826,424.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Patrick Boisvert sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $48.00, for a total value of $72,000.00. Following the completion of the transaction, the chief accounting officer now owns 2,413 shares of the company’s stock, valued at $115,824. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Validus Holdings by 1.4% in the fourth quarter. Rhumbline Advisers now owns 59,133 shares of the company’s stock valued at $2,737,000 after buying an additional 792 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Validus Holdings by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 335,562 shares of the company’s stock valued at $15,533,000 after buying an additional 2,052 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Validus Holdings by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 275,950 shares of the company’s stock valued at $12,774,000 after buying an additional 9,800 shares during the last quarter. Suntrust Banks Inc. boosted its position 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 valued at $1,579,000 after buying an additional 17,786 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Validus Holdings by 175.3% in the fourth quarter. GSA Capital Partners LLP now owns 34,965 shares of the company’s stock valued at $1,619,000 after buying an additional 22,266 shares during the last quarter.
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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