New York State Common Retirement Fund grew its holdings in shares of Validus Holdings, Ltd. (NYSE:VR) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 208,083 shares of the insurance provider’s stock after buying an additional 2,200 shares during the period. New York State Common Retirement Fund owned 0.26% of Validus worth $10,240,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Validus by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,302,341 shares of the insurance provider’s stock worth $327,534,000 after purchasing an additional 109,287 shares during the period. State Treasurer State of Michigan grew its stake in Validus by 11.4% in the third quarter. State Treasurer State of Michigan now owns 3,798,643 shares of the insurance provider’s stock worth $186,931,000 after purchasing an additional 390,000 shares during the period. BlackRock Inc. grew its stake in Validus by 11.2% in the second quarter. BlackRock Inc. now owns 3,597,480 shares of the insurance provider’s stock worth $186,963,000 after purchasing an additional 361,617 shares during the period. Victory Capital Management Inc. grew its stake in Validus by 7.4% in the second quarter. Victory Capital Management Inc. now owns 2,546,912 shares of the insurance provider’s stock worth $132,363,000 after purchasing an additional 176,151 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Validus by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 2,468,885 shares of the insurance provider’s stock worth $128,307,000 after purchasing an additional 172,976 shares during the period. 96.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Validus news, CEO Lixin Zeng sold 26,136 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $52.10, for a total value of $1,361,685.60. Following the transaction, the chief executive officer now owns 57,855 shares of the company’s stock, valued at $3,014,245.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Kean Driscoll sold 6,875 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $46.16, for a total value of $317,350.00. Following the completion of the transaction, the president now directly owns 110,858 shares in the company, valued at approximately $5,117,205.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,886 shares of company stock worth $2,024,848. Corporate insiders own 2.33% of the company’s stock.
Validus Holdings, Ltd. (NYSE:VR) remained flat at $$46.61 during midday trading on Friday. The company’s stock had a trading volume of 435,480 shares, compared to its average volume of 636,033. The stock has a market capitalization of $3,671.14, a PE ratio of -71.71, a PEG ratio of 1.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. Validus Holdings, Ltd. has a 12 month low of $41.15 and a 12 month high of $58.76.
Validus (NYSE:VR) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported ($3.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.30) by $0.08. The firm had revenue of $407.00 million for the quarter, compared to the consensus estimate of $453.04 million. Validus had a negative return on equity of 0.49% and a negative net margin of 1.38%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. equities analysts expect that Validus Holdings, Ltd. will post -0.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, December 14th. Validus’s payout ratio is currently -233.84%.
Several equities research analysts recently weighed in on the company. ValuEngine raised Validus from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Zacks Investment Research cut Validus from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Barclays cut their target price on Validus from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, October 16th. UBS Group cut their target price on Validus from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Finally, Keefe, Bruyette & Woods raised Validus from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Validus currently has an average rating of “Hold” and an average price target of $54.33.
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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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