Schwab Charles Investment Management Inc. boosted its stake in shares of Validus Holdings, Ltd. (NYSE:VR) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,351 shares of the insurance provider’s stock after purchasing an additional 28,787 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.52% of Validus worth $19,348,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in VR. The Manufacturers Life Insurance Company boosted its position in Validus by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,382 shares of the insurance provider’s stock worth $124,000 after acquiring an additional 219 shares during the period. Boston Private Wealth LLC boosted its position in Validus by 4.4% during the 3rd quarter. Boston Private Wealth LLC now owns 38,447 shares of the insurance provider’s stock worth $1,892,000 after acquiring an additional 1,609 shares during the period. New York State Common Retirement Fund boosted its position in Validus by 1.1% during the 3rd quarter. New York State Common Retirement Fund now owns 208,083 shares of the insurance provider’s stock worth $10,240,000 after acquiring an additional 2,200 shares during the period. Zions Bancorporation acquired a new position in Validus during the 3rd quarter worth $116,000. Finally, Advisors Asset Management Inc. boosted its position in Validus by 4,598.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,947 shares of the insurance provider’s stock worth $194,000 after acquiring an additional 3,863 shares during the period. Institutional investors and hedge funds own 95.01% of the company’s stock.
A number of brokerages have issued reports on VR. Buckingham Research lowered Validus from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 13th. JMP Securities lowered Validus from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods lowered Validus from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. UBS Group upped their price objective on Validus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Bank of America upgraded Validus from a “neutral” rating to a “buy” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $52.80.
Shares of Validus Holdings, Ltd. (NYSE:VR) opened at $67.51 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5,530.81, a price-to-earnings ratio of -78.50, a PEG ratio of 1.82 and a beta of 1.05. Validus Holdings, Ltd. has a twelve month low of $41.15 and a twelve month high of $67.73.
Validus (NYSE:VR) last announced its quarterly earnings data on Thursday, February 1st. The insurance provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($1.00). The firm had revenue of $346.88 million during the quarter, compared to analyst estimates of $352.00 million. Validus had a negative net margin of 4.60% and a negative return on equity of 0.99%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. analysts forecast that Validus Holdings, Ltd. will post 4.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Wednesday, March 14th. Validus’s dividend payout ratio (DPR) is presently -176.74%.
In other news, President Kean Driscoll sold 6,875 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $46.16, for a total transaction of $317,350.00. Following the sale, the president now directly owns 110,858 shares of the company’s stock, valued at $5,117,205.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 20,625 shares of company stock worth $1,102,544 over the last ninety days. 2.33% of the stock is owned by insiders.
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Validus Company Profile
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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