Validus Holdings Ltd. (VR) Downgraded by Zacks Investment Research to Hold
Validus Holdings Ltd. (NYSE:VR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Validus Holdings, Ltd., through its principal operating subsidiary Validus Reinsurance, Ltd., is a global provider of short-tail lines of reinsurance including property catastrophe, property pro-rata and property per risk, marine and energy, and other specialty lines. Validus was formed in December following the significant natural catastrophes of 2005 with an experienced management team and an unencumbered capital base of approximately $one billion. “
Separately, JPMorgan Chase & Co. initiated coverage on shares of Validus Holdings in a report on Tuesday, June 28th. They issued an “overweight” rating and a $55.00 target price on the stock.
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Shares of Validus Holdings (NYSE:VR) traded up 0.04% during midday trading on Tuesday, hitting $51.74. 20,374 shares of the stock were exchanged. The firm has a 50 day moving average of $50.44 and a 200-day moving average of $48.49. Validus Holdings has a 12 month low of $41.73 and a 12 month high of $52.39. The stock has a market cap of $4.16 billion, a P/E ratio of 11.02 and a beta of 0.59.
Validus Holdings (NYSE:VR) last released its earnings results on Tuesday, July 26th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by $0.09. Validus Holdings had a return on equity of 8.93% and a net margin of 16.72%. The company earned $574.47 million during the quarter, compared to analysts’ expectations of $576.08 million. During the same period last year, the firm posted $1.16 EPS. Equities research analysts anticipate that Validus Holdings will post $4.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Tuesday, September 13th. Validus Holdings’s payout ratio is 29.72%.
In related news, Director Michael E.A. Carpenter sold 9,300 shares of the company’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $49.60, for a total transaction of $461,280.00. Following the sale, the director now owns 281,733 shares of the company’s stock, valued at $13,973,956.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Greenberg sold 54,872 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $49.47, for a total transaction of $2,714,517.84. Following the sale, the director now directly owns 3,027 shares in the company, valued at approximately $149,745.69. The disclosure for this sale can be found here. Corporate insiders own 4.19% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Validus Holdings by 3.6% in the second quarter. Vanguard Group Inc. now owns 5,754,362 shares of the company’s stock valued at $279,604,000 after buying an additional 201,825 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Validus Holdings by 16.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,352,930 shares of the company’s stock valued at $211,509,000 after buying an additional 626,711 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Validus Holdings by 0.4% in the second quarter. State Treasurer State of Michigan now owns 3,408,643 shares of the company’s stock valued at $165,626,000 after buying an additional 14,743 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Validus Holdings by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,082,180 shares of the company’s stock valued at $101,166,000 after buying an additional 129,879 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Validus Holdings by 4.4% in the second quarter. JPMorgan Chase & Co. now owns 1,856,643 shares of the company’s stock valued at $90,214,000 after buying an additional 78,064 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Validus Holdings Company Profile
Validus Holdings, Ltd. is a holding company. The Company conducts its operations through four operating segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. AlphaCat is an investment advisor managing capital from third parties and the Company in insurance linked securities and other investments in the property catastrophe reinsurance space.
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