Validus Holdings Ltd. (NYSE:VR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. began coverage on shares of Validus Holdings in a report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective on the stock.
Validus Holdings (NYSE:VR) traded up 0.04% during trading on Tuesday, reaching $51.74. 19,792 shares of the company’s stock traded hands. The company has a market cap of $4.16 billion, a P/E ratio of 11.02 and a beta of 0.59. The firm’s 50 day moving average is $50.44 and its 200 day moving average is $48.49. Validus Holdings has a 12 month low of $41.73 and a 12 month high of $52.39.
Validus Holdings (NYSE:VR) last posted its earnings results 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. The firm earned $574.47 million during the quarter, compared to analyst estimates of $576.08 million. Validus Holdings had a return on equity of 8.93% and a net margin of 16.72%. During the same quarter last year, the business posted $1.16 earnings per share. Analysts anticipate that Validus Holdings will post $4.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.71%. Validus Holdings’s payout ratio is 29.72%.
In related news, Director Jeffrey W. Greenberg sold 54,872 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $49.47, for a total value of $2,714,517.84. Following the completion of the transaction, the director now owns 3,027 shares of the company’s stock, valued at $149,745.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E.A. Carpenter sold 9,300 shares of the firm’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $49.60, for a total transaction of $461,280.00. Following the completion of the transaction, the director now directly 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. Corporate insiders own 4.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VR. M&R Capital Management Inc. acquired a new position in Validus Holdings during the second quarter worth $104,000. Trexquant Investment LP purchased a new position in shares of Validus Holdings during the second quarter worth approximately $200,000. Parametrica Management Ltd purchased a new position in shares of Validus Holdings during the second quarter worth approximately $228,000. Pacad Investment Ltd. purchased a new position in shares of Validus Holdings during the first quarter worth approximately $227,000. Finally, Clinton Group Inc. purchased a new position in shares of Validus Holdings during the second quarter worth approximately $234,000. 93.60% of the stock is owned by institutional investors and hedge funds.
About Validus Holdings
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.