Utah Retirement Systems boosted its stake in Validus Holdings, Ltd. (NYSE:VR) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,181 shares of the insurance provider’s stock after buying an additional 400 shares during the quarter. Utah Retirement Systems’ holdings in Validus Holdings were worth $737,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Validus Holdings by 14.0% in the 2nd quarter. IFP Advisors Inc now owns 2,154 shares of the insurance provider’s stock worth $112,000 after buying an additional 265 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Validus Holdings in the 2nd quarter worth approximately $116,000. BNP Paribas Arbitrage SA lifted its position in Validus Holdings by 93.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,650 shares of the insurance provider’s stock worth $138,000 after buying an additional 1,282 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Validus Holdings in the 2nd quarter worth approximately $222,000. Finally, Parallel Advisors LLC lifted its position in Validus Holdings by 19.8% in the 1st quarter. Parallel Advisors LLC now owns 4,425 shares of the insurance provider’s stock worth $244,000 after buying an additional 731 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.
In other Validus Holdings news, Director Matthew J. Grayson sold 30,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $52.67, for a total transaction of $1,580,100.00. Following the sale, the director now directly owns 61,393 shares of the company’s stock, valued at $3,233,569.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew J. Grayson sold 10,000 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $53.09, for a total transaction of $530,900.00. Following the sale, the director now directly owns 51,393 shares in the company, valued at $2,728,454.37. The disclosure for this sale can be found here. Corporate insiders own 2.33% of the company’s stock.
Validus Holdings, Ltd. (VR) opened at 47.06 on Tuesday. Validus Holdings, Ltd. has a 12-month low of $41.15 and a 12-month high of $58.76. The stock’s 50 day moving average is $51.58 and its 200-day moving average is $53.72. The company has a market cap of $3.74 billion, a P/E ratio of 12.98 and a beta of 0.65.
Validus Holdings (NYSE:VR) last announced its earnings results on Thursday, July 27th. The insurance provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. Validus Holdings had a net margin of 11.81% and a return on equity of 7.75%. The business had revenue of $675.27 million during the quarter, compared to analysts’ expectations of $922.84 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Analysts predict that Validus Holdings, Ltd. will post $3.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, September 14th. Validus Holdings’s dividend payout ratio (DPR) is currently 41.87%.
A number of research firms have issued reports on VR. BidaskClub upgraded shares of Validus Holdings from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Validus Holdings from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $55.00 price target on shares of Validus Holdings and gave the company a “hold” rating in a report on Thursday, August 17th. ValuEngine upgraded shares of Validus Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Buckingham Research began coverage on shares of Validus Holdings in a report on Monday. They set a “buy” rating and a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Validus Holdings presently has a consensus rating of “Hold” and a consensus price target of $56.29.
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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