Validus Holdings Ltd. (VR) Sets New 12-Month High at $49.73
Validus Holdings Ltd. (NYSE:VR)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $49.73 and last traded at $49.41, with a volume of 219,067 shares traded. The stock had previously closed at $49.37.
A number of equities analysts have commented on VR shares. Zacks Investment Research upgraded shares of Validus Holdings from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Saturday, May 7th. JPMorgan Chase & Co. began coverage on shares of Validus Holdings in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Bank of America Corp. upgraded shares of Validus Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $52.25.
The stock’s 50-day moving average price is $47.79 and its 200-day moving average price is $46.32. The firm has a market cap of $3.99 billion and a PE ratio of 10.13.
Validus Holdings (NYSE:VR) last issued its earnings results on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.09. During the same quarter in the previous year, the business earned $1.16 earnings per share. The business had revenue of $574.47 million for the quarter, compared to the consensus estimate of $576.08 million. Analysts predict that Validus Holdings Ltd. will post $4.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Monday, June 13th.
In other Validus Holdings news, EVP Andrew E. Kudera sold 10,000 shares of Validus Holdings stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $46.72, for a total transaction of $467,200.00. Following the transaction, the executive vice president now directly owns 39,093 shares of the company’s stock, valued at $1,826,424.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lixin Zeng sold 4,887 shares of Validus Holdings stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $48.36, for a total transaction of $236,335.32. Following the transaction, the chief executive officer now directly owns 36,607 shares in the company, valued at $1,770,314.52. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of VR. Wells Fargo & Company MN increased its position in shares of 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. New York State Common Retirement Fund increased its stake in 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 worth $15,533,000 after buying an additional 2,052 shares during the period. California Public Employees Retirement System increased its stake in Validus Holdings by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 275,950 shares of the company’s stock worth $12,774,000 after buying an additional 9,800 shares during the period. Morgan Stanley increased 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. Finally, Suntrust Banks Inc. increased 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.
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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