Mint Tower Capital Management B.V. bought a new stake in shares of Validus Holdings, Ltd. (NYSE:VR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,500 shares of the insurance provider’s stock, valued at approximately $236,000.
Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in shares of Validus during the 1st quarter valued at $112,000. The Manufacturers Life Insurance Company lifted its position in shares of Validus by 31.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,211 shares of the insurance provider’s stock valued at $151,000 after acquiring an additional 761 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Validus by 48.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock valued at $202,000 after acquiring an additional 1,410 shares during the period. Paragon Capital Management Ltd acquired a new position in shares of Validus during the 4th quarter valued at $211,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Validus during the 4th quarter valued at $217,000. Institutional investors own 83.21% of the company’s stock.
In other news, Director Michael E.A. Carpenter sold 10,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $67.70, for a total value of $677,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kean Driscoll sold 6,875 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $67.29, for a total transaction of $462,618.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,625 shares of company stock valued at $2,068,363. Company insiders own 2.33% of the company’s stock.
Validus (NYSE:VR) last announced its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.56). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.32 billion. Validus had a negative net margin of 5.06% and a negative return on equity of 2.69%. The business’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. analysts forecast that Validus Holdings, Ltd. will post 4.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Tuesday, May 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. Validus’s payout ratio is -142.06%.
A number of analysts have commented on VR shares. Zacks Investment Research lowered shares of Validus from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Buckingham Research lowered shares of Validus from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 13th. JMP Securities lowered shares of Validus from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods lowered shares of Validus from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Validus currently has a consensus rating of “Hold” and a consensus target price of $51.25.
Validus Company Profile
Validus Holdings, Ltd. provides reinsurance coverage, insurance coverage, and insurance linked securities management services worldwide. It operates through three segments: Reinsurance, Insurance, and Asset Management. The Reinsurance segment underwrites property reinsurance products on a catastrophe excess of loss, per risk excess of loss and proportional basis; and aerospace and aviation, agriculture, composite, marine, technical lines, terrorism, trade credit, workers' compensation, and other specialty lines, as well as casualty and financial lines.
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