Gabelli Funds LLC bought a new position in Validus Holdings, Ltd. (NYSE:VR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 305,133 shares of the insurance provider’s stock, valued at approximately $20,581,000. Gabelli Funds LLC owned about 0.38% of Validus at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in VR. Signaturefd LLC bought a new stake in shares of Validus during the first quarter worth approximately $112,000. The Manufacturers Life Insurance Company raised its stake in shares of Validus by 31.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,211 shares of the insurance provider’s stock worth $151,000 after buying an additional 761 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Validus by 48.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,315 shares of the insurance provider’s stock worth $202,000 after buying an additional 1,410 shares during the last quarter. Paragon Capital Management Ltd bought a new stake in shares of Validus during the fourth quarter worth approximately $211,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Validus during the fourth quarter worth approximately $217,000. 84.93% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on VR shares. JMP Securities downgraded shares of Validus from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Buckingham Research downgraded shares of Validus from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 13th. Finally, Zacks Investment Research downgraded shares of Validus from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $51.25.
In other news, Director Michael E.A. Carpenter sold 10,000 shares of the company’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kean Driscoll sold 6,875 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were 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. Insiders sold 30,625 shares of company stock valued at $2,068,363 in the last ninety days. Insiders own 2.33% of the company’s stock.
Shares of NYSE:VR opened at $67.67 on Friday. Validus Holdings, Ltd. has a 52 week low of $41.15 and a 52 week high of $67.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of -63.24, a PEG ratio of 1.82 and a beta of 0.99.
Validus (NYSE:VR) last issued its earnings results on Tuesday, May 1st. The insurance provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.56). Validus had a negative net margin of 5.06% and a negative return on equity of 2.69%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. research analysts anticipate 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. Shareholders of record on Tuesday, May 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Monday, May 14th. Validus’s payout ratio is presently -142.06%.
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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