Allianz Asset Management GmbH Raises Holdings in Validus Holdings, Ltd. (VR)
Allianz Asset Management GmbH raised its position in Validus Holdings, Ltd. (NYSE:VR) by 777.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 188,510 shares of the insurance provider’s stock after acquiring an additional 167,019 shares during the period. Allianz Asset Management GmbH’s holdings in Validus were worth $8,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Validus by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,382 shares of the insurance provider’s stock valued at $124,000 after purchasing an additional 219 shares in the last quarter. Monarch Partners Asset Management LLC grew its position in shares of Validus by 1.4% in the fourth quarter. Monarch Partners Asset Management LLC now owns 58,514 shares of the insurance provider’s stock valued at $2,745,000 after purchasing an additional 800 shares in the last quarter. Amalgamated Bank grew its position in shares of Validus by 6.1% in the fourth quarter. Amalgamated Bank now owns 14,785 shares of the insurance provider’s stock valued at $694,000 after purchasing an additional 848 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Validus by 48.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock valued at $202,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Boston Private Wealth LLC grew its position in shares of Validus by 4.4% in the third quarter. Boston Private Wealth LLC now owns 38,447 shares of the insurance provider’s stock valued at $1,892,000 after purchasing an additional 1,609 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.
In other news, President Kean Driscoll sold 6,875 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $67.43, for a total value of $463,581.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 20,625 shares of company stock valued at $1,102,544. 2.33% of the stock is owned by company insiders.
Validus (NYSE:VR) last posted its earnings results on Thursday, February 1st. The insurance provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($1.00). Validus had a negative return on equity of 1.85% and a negative net margin of 1.70%. The business had revenue of $346.88 million for the quarter, compared to analysts’ expectations of $352.00 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Validus’s quarterly revenue was up 16.1% compared to the same quarter last year. equities research analysts predict that Validus Holdings, Ltd. will post 4.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, March 14th. Validus’s payout ratio is -176.74%.
VR has been the subject of several recent research reports. Zacks Investment Research reiterated a “strong sell” rating on shares of Validus in a research report on Saturday, January 6th. Buckingham Research cut Validus from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 13th. JMP Securities cut Validus from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods cut Validus from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Barclays restated a “hold” rating and set a $50.00 target price on shares of Validus in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $52.80.
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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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