Zacks Investment Research upgraded shares of Validus Holdings Ltd. (NYSE:VR) from a hold rating to a buy rating in a research note published on Saturday morning. They currently have $58.00 target price on the stock.
According to Zacks, “Validus Holdings, Ltd., through its principal operating subsidiary Validus Reinsurance, Ltd., is a global provider of short-tail lines of reinsurance including property catastrophe, property pro-rata and property per risk, marine and energy, and other specialty lines. Validus was formed in December following the significant natural catastrophes of 2005 with an experienced management team and an unencumbered capital base of approximately $one billion. “
Separately, JPMorgan Chase & Co. initiated coverage on shares of Validus Holdings in a report on Tuesday, June 28th. They issued an overweight rating and a $55.00 target price for the company.
Shares of Validus Holdings (NYSE:VR) opened at 51.64 on Friday. The firm has a 50-day moving average of $50.40 and a 200-day moving average of $48.44. The company has a market cap of $4.15 billion, a P/E ratio of 11.00 and a beta of 0.59. Validus Holdings has a 12-month low of $41.73 and a 12-month high of $52.39.
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 Thomson Reuters’ consensus estimate of $0.75 by $0.09. Validus Holdings had a return on equity of 8.93% and a net margin of 16.72%. The business had revenue of $574.47 million for the quarter, compared to analyst estimates of $576.08 million. During the same quarter in the previous year, the company posted $1.16 EPS. Analysts predict that Validus Holdings will post $4.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.35 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.71%. Validus Holdings’s dividend payout ratio is currently 29.72%.
In related news, Director Jeffrey W. Greenberg sold 54,872 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $49.47, for a total transaction of $2,714,517.84. Following the completion of the sale, the director now owns 3,027 shares in the company, valued at $149,745.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E.A. Carpenter sold 9,300 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $49.60, for a total transaction of $461,280.00. Following the sale, the director now owns 281,733 shares of the company’s stock, valued at approximately $13,973,956.80. The disclosure for this sale can be found here. 4.19% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. M&R Capital Management Inc. bought a new stake in Validus Holdings during the second quarter worth about $104,000. Trexquant Investment LP bought a new stake in Validus Holdings during the second quarter worth about $200,000. Parametrica Management Ltd bought a new stake in Validus Holdings during the second quarter worth about $228,000. Pacad Investment Ltd. bought a new stake in Validus Holdings during the first quarter worth about $227,000. Finally, Clinton Group Inc. bought a new stake in Validus Holdings during the second quarter worth about $234,000. Institutional investors and hedge funds own 93.59% of the company’s stock.
Validus Holdings Company Profile
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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