Validus Holdings Ltd. (VR) Reaches New 52-Week High at $50.44
Validus Holdings Ltd. (NYSE:VR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.44 and last traded at $50.42, with a volume of 71,528 shares changing hands. The stock had previously closed at $50.23.
Several equities analysts have recently issued reports on VR shares. Zacks Investment Research lowered Validus Holdings from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. JPMorgan Chase & Co. started 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. Finally, Bank of America Corp. upgraded Validus Holdings from an “underperform” rating to a “neutral” rating in a research note on Monday, May 2nd. One research 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’s stock. Validus Holdings presently has a consensus rating of “Hold” and a consensus price target of $52.25.
The stock has a market cap of $4.05 billion and a price-to-earnings ratio of 10.75. The firm has a 50 day moving average price of $48.75 and a 200 day moving average price of $46.76.
Validus Holdings (NYSE:VR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.09. The firm had revenue of $574.47 million for the quarter, compared to analysts’ expectations of $576.08 million. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts forecast that Validus Holdings Ltd. will post $4.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%.
In other news, CAO Patrick Boisvert sold 1,500 shares of the 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 sale, the chief accounting officer now owns 2,413 shares in the company, valued at $115,824. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lixin Zeng sold 4,887 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $48.36, for a total transaction of $236,335.32. Following the completion of the sale, the chief executive officer now owns 36,607 shares in the company, valued at approximately $1,770,314.52. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in VR. Suntrust Banks Inc. raised 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 valued at $1,579,000 after buying an additional 17,786 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Validus Holdings by 119.7% in the fourth quarter. Marshall Wace LLP now owns 99,859 shares of the company’s stock valued at $4,622,000 after buying an additional 54,402 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Validus Holdings by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,907,426 shares of the company’s stock valued at $88,299,000 after buying an additional 85,497 shares during the period. Morgan Stanley raised its stake in shares of Validus Holdings by 61.3% in the fourth quarter. Morgan Stanley now owns 426,044 shares of the company’s stock valued at $19,721,000 after buying an additional 161,933 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Validus Holdings by 31.6% in the fourth quarter. Jennison Associates LLC now owns 1,335,795 shares of the company’s stock valued at $61,834,000 after buying an additional 320,684 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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