Validus Holdings, Ltd. (NYSE:VR) declared a quarterly dividend on Wednesday, November 1st, Zacks reports. Investors of record on Friday, December 15th will be given a dividend of 0.38 per share by the insurance provider on Friday, December 29th. This represents a $1.52 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 14th.
Validus has raised its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Validus has a payout ratio of -950.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Validus to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 36.9%.
Validus (NYSE VR) traded up $0.42 during trading hours on Friday, reaching $46.77. 814,330 shares of the company traded hands, compared to its average volume of 622,756. Validus has a 1 year low of $41.15 and a 1 year high of $58.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52.
Validus (NYSE:VR) last announced its quarterly earnings data 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. Validus had a negative net margin of 1.38% and a negative return on equity of 0.49%. The company had revenue of $407.00 million during the quarter, compared to analysts’ expectations of $453.04 million. During the same quarter in the prior year, the company posted $1.02 EPS. The business’s revenue was up 24.3% on a year-over-year basis. analysts forecast that Validus will post -0.16 earnings per share for the current fiscal year.
In other Validus news, President Kean Driscoll sold 6,875 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $50.30, for a total transaction of $345,812.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $1,361,685.60. Following the sale, the chief executive officer now directly owns 57,855 shares in the company, valued at approximately $3,014,245.50. The disclosure for this sale can be found here. Company insiders own 2.33% of the company’s stock.
A hedge fund recently raised its stake in Validus stock. The Manufacturers Life Insurance Company grew its holdings in Validus Holdings, Ltd. (NYSE:VR) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,382 shares of the insurance provider’s stock after purchasing an additional 219 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Validus were worth $124,000 at the end of the most recent reporting period. 96.35% of the stock is currently owned by institutional investors and hedge funds.
VR has been the subject of a number of recent research reports. BidaskClub upgraded shares of Validus from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods set a $55.00 price objective on shares of Validus and gave the company a “hold” rating in a research note on Thursday, August 17th. ValuEngine upgraded shares of Validus from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Buckingham Research initiated coverage on shares of Validus in a research note on Monday, September 11th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, UBS dropped their price objective on shares of Validus from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Validus has an average rating of “Hold” and a consensus target price of $54.83.
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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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