Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Validus Holdings, Ltd. (NYSE:VR) by 52.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466,772 shares of the insurance provider’s stock after buying an additional 160,873 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.59% of Validus Holdings worth $26,321,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in VR. Brinker Capital Inc. bought a new stake in Validus Holdings during the third quarter worth $202,000. Parallel Advisors LLC bought a new stake in Validus Holdings during the fourth quarter worth $203,000. Ropes Wealth Advisors LLC raised its stake in Validus Holdings by 408.8% in the first quarter. Ropes Wealth Advisors LLC now owns 3,602 shares of the insurance provider’s stock worth $203,000 after buying an additional 2,894 shares in the last quarter. Sciencast Management LP bought a new stake in Validus Holdings during the fourth quarter worth $204,000. Finally, Trexquant Investment LP bought a new stake in Validus Holdings during the fourth quarter worth $209,000. 89.98% of the stock is currently owned by institutional investors.
Validus Holdings, Ltd. (NYSE:VR) traded up 0.50% during mid-day trading on Friday, hitting $52.50. The stock had a trading volume of 404,472 shares. Validus Holdings, Ltd. has a one year low of $45.34 and a one year high of $58.76. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 14.91 and a beta of 0.57. The company has a 50 day moving average price of $55.03 and a 200-day moving average price of $55.58.
Validus Holdings (NYSE:VR) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by $0.22. The company had revenue of $990.80 million during the quarter, compared to the consensus estimate of $1.03 billion. Validus Holdings had a return on equity of 8.09% and a net margin of 14.97%. Validus Holdings’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. Equities analysts expect that Validus Holdings, Ltd. will post $3.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, June 13th. Validus Holdings’s dividend payout ratio is presently 32.33%.
VR has been the topic of a number of recent research reports. Barclays PLC reaffirmed a “hold” rating and set a $57.00 price objective on shares of Validus Holdings in a research report on Sunday, February 19th. Zacks Investment Research lowered Validus Holdings from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 16th. Deutsche Bank AG lowered Validus Holdings from a “buy” rating to a “hold” rating and upped their price objective for the stock from $55.00 to $56.00 in a research report on Monday, February 6th. They noted that the move was a valuation call. JMP Securities upped their price objective on Validus Holdings from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $55.00 price objective on shares of Validus Holdings in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Validus Holdings presently has an average rating of “Hold” and an average price target of $58.33.
In related news, EVP Andrew E. Kudera sold 10,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $52.90, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now owns 32,841 shares of the company’s stock, valued at approximately $1,737,288.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew J. Grayson sold 637 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $57.60, for a total transaction of $36,691.20. Following the sale, the director now directly owns 107,520 shares of the company’s stock, valued at approximately $6,193,152. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,590 shares of company stock valued at $1,498,153. Insiders own 4.19% of the company’s stock.
Validus Holdings Company Profile
Validus Holdings, Ltd. is a holding company. The Company operates through four segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. Validus Re concentrates on first-party property and other reinsurance risks. Talbot is a specialty insurance segment operating within the Lloyd’s insurance market through Syndicate 1183.
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