Validus Holdings Ltd. (VR) Hits New 1-Year High at $50.76
Shares of Validus Holdings Ltd. (NYSE:VR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.76 and last traded at $50.74, with a volume of 60,792 shares changing hands. The stock had previously closed at $50.37.
Several brokerages have recently weighed in on VR. JPMorgan Chase & Co. began coverage on Validus Holdings in a report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective on the stock. Zacks Investment Research raised Validus Holdings from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Saturday, May 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Validus Holdings has an average rating of “Hold” and an average price target of $52.25.
The firm has a market capitalization of $4.09 billion and a PE ratio of 10.85. The stock’s 50-day moving average is $49.59 and its 200 day moving average is $47.41.
Validus Holdings (NYSE:VR) last announced its earnings results 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 earned $574.47 million during the quarter, compared to the consensus estimate of $576.08 million. During the same quarter in the prior year, the business posted $1.16 EPS. Analysts expect that Validus Holdings Ltd. will post $4.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%.
In other news, CAO Patrick Boisvert sold 1,500 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $48.00, for a total transaction of $72,000.00. Following the transaction, the chief accounting officer now owns 2,413 shares in the company, valued at $115,824. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lixin Zeng sold 4,887 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $48.36, for a total value of $236,335.32. Following the transaction, 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.
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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