Validus Holdings Ltd. (VR) Declares Quarterly Dividend of $0.35
Validus Holdings Ltd. (NYSE:VR) announced a quarterly dividend on Friday, November 18th. Investors of record on Thursday, December 15th will be paid a dividend of 0.35 per share on Friday, December 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, December 13th.
Shares of Validus Holdings (NYSE:VR) opened at 53.71 on Monday. The company has a market cap of $4.26 billion, a P/E ratio of 10.66 and a beta of 0.52. The company’s 50 day moving average is $50.79 and its 200-day moving average is $49.12. Validus Holdings has a 12 month low of $41.73 and a 12 month high of $54.28.
Validus Holdings (NYSE:VR) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.21. Validus Holdings had a net margin of 17.54% and a return on equity of 9.27%. The company had revenue of $327.40 million for the quarter, compared to analyst estimates of $593.74 million. During the same quarter in the prior year, the business posted $0.86 EPS. Validus Holdings’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts expect that Validus Holdings will post $3.88 EPS for the current fiscal year.
In other Validus Holdings news, Director Jeffrey W. Greenberg sold 54,872 shares of the 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 sale, the director now directly owns 3,027 shares of the company’s stock, valued at approximately $149,745.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kean Driscoll sold 4,151 shares of the stock in a transaction on Monday, October 17th. The shares were sold at an average price of $51.72, for a total transaction of $214,689.72. Following the completion of the sale, the chief executive officer now directly owns 133,898 shares of the company’s stock, valued at $6,925,204.56. The disclosure for this sale can be found here. Corporate insiders own 4.19% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Validus Holdings by 244.3% in the second quarter. BlackRock Inc. now owns 38,772 shares of the company’s stock worth $1,883,000 after buying an additional 27,510 shares during the period. BlackRock Group LTD increased its stake in shares of Validus Holdings by 1.4% in the second quarter. BlackRock Group LTD now owns 72,858 shares of the company’s stock worth $3,540,000 after buying an additional 1,020 shares during the period. US Bancorp DE increased its stake in shares of Validus Holdings by 23.2% in the second quarter. US Bancorp DE now owns 9,990 shares of the company’s stock worth $486,000 after buying an additional 1,879 shares during the period. Trexquant Investment LP bought a new stake in shares of Validus Holdings during the second quarter worth $200,000. Finally, Commonwealth Bank of Australia increased its stake in shares of Validus Holdings by 6.8% in the second quarter. Commonwealth Bank of Australia now owns 18,863 shares of the company’s stock worth $918,000 after buying an additional 1,200 shares during the period. 96.67% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Validus Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th.
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.
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