Alliancebernstein L.P. lessened its holdings in shares of Validus Holdings, Ltd. (NYSE:VR) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,853,530 shares of the insurance provider’s stock after selling 201,287 shares during the quarter. Alliancebernstein L.P.’s holdings in Validus were worth $86,968,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Zions Bancorporation bought a new position in shares of Validus during the third quarter valued at approximately $116,000. The Manufacturers Life Insurance Company raised its holdings in shares of Validus by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,382 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 219 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Validus by 4,598.8% in the third quarter. Advisors Asset Management Inc. now owns 3,947 shares of the insurance provider’s stock worth $194,000 after purchasing an additional 3,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Validus by 48.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Paragon Capital Management Ltd bought a new position in Validus in the fourth quarter worth $211,000. Institutional investors own 94.50% of the company’s stock.
In other news, President Kean Driscoll sold 6,875 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $46.16, for a total transaction of $317,350.00. Following the completion of the transaction, the president now directly owns 110,858 shares in the company, valued at $5,117,205.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 20,625 shares of company stock valued at $1,102,544 over the last 90 days. Corporate insiders own 2.33% of the company’s stock.
Validus (NYSE:VR) last issued its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($1.00). Validus had a negative net margin of 1.70% and a negative return on equity of 1.85%. The company had revenue of $346.88 million for the quarter, compared to the consensus estimate of $352.00 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. Validus’s revenue was up 16.1% compared to the same quarter last year. equities analysts forecast that Validus Holdings, Ltd. will post 4.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. Validus’s payout ratio is presently -176.74%.
A number of research firms have issued reports on VR. Buckingham Research downgraded Validus from a “buy” rating to a “neutral” rating in a report on Tuesday, February 13th. JMP Securities downgraded Validus from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods downgraded Validus from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Zacks Investment Research downgraded Validus from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Finally, Barclays reiterated a “hold” rating and issued a $50.00 price objective on shares of Validus in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus 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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