Validus Holdings Ltd. (VR) Reaches New 1-Year High at $50.76
Validus Holdings Ltd. (NYSE:VR) reached a new 52-week high on Monday . The company traded as high as $50.76 and last traded at $50.74, with a volume of 60,792 shares trading hands. The stock had previously closed at $50.37.
A number of research firms recently weighed in on VR. Zacks Investment Research lowered shares of Validus Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Validus Holdings in a research note on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective on the stock. One 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 stock has an average rating of “Hold” and an average price target of $52.25.
The firm has a market cap of $4.07 billion and a P/E ratio of 10.79. The stock has a 50-day moving average price of $49.46 and a 200-day moving average price of $47.26.
Validus Holdings (NYSE:VR) last posted its earnings results on Tuesday, July 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.09. The business had revenue of $574.47 million for the quarter, compared to analysts’ expectations of $576.08 million. During the same period in the previous year, the business earned $1.16 EPS. Analysts anticipate that Validus Holdings Ltd. will post $4.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, September 13th.
In other news, CAO Patrick Boisvert sold 1,500 shares of Validus Holdings stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,413 shares of the company’s stock, valued at $115,824. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lixin Zeng sold 4,887 shares of Validus Holdings stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $48.36, for a total transaction of $236,335.32. Following the completion of the transaction, the chief executive officer now directly owns 36,607 shares in the company, valued at approximately $1,770,314.52. The disclosure for this sale can be found here.
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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