Sit Investment Associates Inc. Has $12,146,000 Position in Validus Holdings Ltd. (VR)
Sit Investment Associates Inc. cut its position in shares of Validus Holdings Ltd. (NYSE:VR) by 42.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 249,975 shares of the company’s stock after selling 184,700 shares during the period. Sit Investment Associates Inc. owned 0.31% of Validus Holdings worth $12,146,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. James Investment Research Inc. boosted its stake in Validus Holdings by 0.6% in the second quarter. James Investment Research Inc. now owns 9,656 shares of the company’s stock worth $469,000 after buying an additional 53 shares during the period. Fulton Bank N.A. boosted its position in shares of Validus Holdings by 1.5% in the second quarter. Fulton Bank N.A. now owns 10,013 shares of the company’s stock valued at $486,000 after buying an additional 147 shares during the period. Raymond James Trust N.A. boosted its position in shares of Validus Holdings by 3.3% in the second quarter. Raymond James Trust N.A. now owns 5,186 shares of the company’s stock valued at $252,000 after buying an additional 166 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Validus Holdings by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 8,567 shares of the company’s stock valued at $416,000 after buying an additional 594 shares during the period. Finally, Regentatlantic Capital LLC boosted its position in shares of Validus Holdings by 17.7% in the second quarter. Regentatlantic Capital LLC now owns 5,064 shares of the company’s stock valued at $246,000 after buying an additional 760 shares during the period. Institutional investors own 93.59% of the company’s stock.
Shares of Validus Holdings Ltd. (NYSE:VR) traded down 1.87% on Thursday, hitting $48.87. The company had a trading volume of 627,458 shares. The stock has a market cap of $3.93 billion, a PE ratio of 10.41 and a beta of 0.59. The company has a 50-day moving average of $50.18 and a 200 day moving average of $48.25. Validus Holdings Ltd. has a 12 month low of $41.73 and a 12 month high of $51.58.
Validus Holdings (NYSE:VR) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by $0.09. Validus Holdings had a net margin of 16.72% and a return on equity of 8.93%. The firm earned $574.47 million during the quarter, compared to analyst estimates of $576.08 million. During the same quarter in the previous year, the business posted $1.16 EPS. Analysts anticipate that Validus Holdings Ltd. will post $4.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.81%. Validus Holdings’s payout ratio is currently 29.72%.
Several brokerages have recently commented on VR. Zacks Investment Research lowered Validus Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. JPMorgan Chase & Co. started coverage on Validus Holdings in a research report on Tuesday, June 28th. They set an “overweight” rating and a $55.00 price objective for the company.
In other news, Director Michael E.A. Carpenter sold 9,300 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $49.60, for a total value of $461,280.00. Following the completion of the transaction, the director now directly owns 281,733 shares in the company, valued at $13,973,956.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Greenberg sold 54,872 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 3,027 shares of the company’s stock, valued at $149,745.69. The disclosure for this sale can be found here. 4.19% of the stock is currently owned by company insiders.
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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