Kean Driscoll Sells 6,875 Shares of Validus Holdings, Ltd. (VR) Stock
Validus Holdings, Ltd. (NYSE:VR) President Kean Driscoll sold 6,875 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $50.30, for a total transaction of $345,812.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Validus Holdings, Ltd. (NYSE:VR) opened at $49.66 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. Validus Holdings, Ltd. has a 12-month low of $41.15 and a 12-month high of $58.76.
Validus Holdings (NYSE:VR) last posted its earnings results on Thursday, October 26th. The insurance provider reported ($3.22) earnings per share for the quarter, topping the consensus estimate of ($3.30) by $0.08. The firm had revenue of $407.00 million during the quarter, compared to the consensus estimate of $453.04 million. Validus Holdings had a negative net margin of 1.38% and a negative return on equity of 0.49%. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the company earned $1.02 earnings per share. research analysts expect that Validus Holdings, Ltd. will post -0.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a yield of 3.06%. Validus Holdings’s dividend payout ratio is currently -233.85%.
Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of Validus Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Zacks Investment Research cut shares of Validus Holdings from a “hold” rating to a “strong sell” rating in a report on Thursday, September 28th. Keefe, Bruyette & Woods set a $55.00 price target on shares of Validus Holdings and gave the stock a “hold” rating in a report on Thursday, August 17th. UBS AG reduced their price target on shares of Validus Holdings from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, October 2nd. Finally, ValuEngine cut shares of Validus Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.83.
A number of large investors have recently modified their holdings of VR. BlackRock Inc. grew its stake in Validus Holdings by 2,898.5% during the first quarter. BlackRock Inc. now owns 3,235,863 shares of the insurance provider’s stock valued at $182,471,000 after acquiring an additional 3,127,947 shares in the last quarter. Principal Financial Group Inc. increased its position in Validus Holdings by 183.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,655,977 shares of the insurance provider’s stock valued at $86,061,000 after purchasing an additional 1,072,405 shares during the period. Diamond Hill Capital Management Inc. increased its position in Validus Holdings by 84.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,783,406 shares of the insurance provider’s stock valued at $92,684,000 after purchasing an additional 814,080 shares during the period. Renaissance Technologies LLC increased its position in Validus Holdings by 197.3% during the 2nd quarter. Renaissance Technologies LLC now owns 950,569 shares of the insurance provider’s stock valued at $49,401,000 after purchasing an additional 630,835 shares during the period. Finally, State Treasurer State of Michigan increased its position in Validus Holdings by 11.4% during the 3rd quarter. State Treasurer State of Michigan now owns 3,798,643 shares of the insurance provider’s stock valued at $186,931,000 after purchasing an additional 390,000 shares during the period. 92.84% of the stock is owned by institutional investors.
About Validus Holdings
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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