Cadence Capital Management LLC raised its holdings in shares of Validus Holdings, Ltd. (NYSE:VR) by 41.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,757 shares of the insurance provider’s stock after buying an additional 4,917 shares during the period. Cadence Capital Management LLC’s holdings in Validus were worth $825,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Schroder Investment Management Group raised its stake in shares of Validus by 13.7% during the third quarter. Schroder Investment Management Group now owns 1,831,428 shares of the insurance provider’s stock valued at $88,440,000 after acquiring an additional 220,900 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Validus by 11.9% during the third quarter. Legal & General Group Plc now owns 76,324 shares of the insurance provider’s stock valued at $3,756,000 after acquiring an additional 8,105 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Validus by 15.6% during the third quarter. Systematic Financial Management LP now owns 204,916 shares of the insurance provider’s stock valued at $10,084,000 after acquiring an additional 27,604 shares during the last quarter. Cipher Capital LP raised its stake in shares of Validus by 67.2% during the third quarter. Cipher Capital LP now owns 139,764 shares of the insurance provider’s stock valued at $6,878,000 after acquiring an additional 56,187 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Validus by 5.2% during the third quarter. Macquarie Group Ltd. now owns 1,427,096 shares of the insurance provider’s stock valued at $70,228,000 after acquiring an additional 70,508 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.
In other news, CEO Lixin Zeng sold 26,136 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were 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 owns 57,855 shares in the company, valued at $3,014,245.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Kean Driscoll sold 6,875 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $50.30, for a total transaction of $345,812.50. The disclosure for this sale can be found here. Corporate insiders own 2.33% of the company’s stock.
Shares of Validus Holdings, Ltd. (VR) traded down $0.96 on Thursday, reaching $46.86. 1,205,900 shares of the company’s stock were exchanged, compared to its average volume of 615,598. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. Validus Holdings, Ltd. has a twelve month low of $41.15 and a twelve month high of $58.76.
Validus (NYSE:VR) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported ($3.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.30) by $0.08. The business had revenue of $407.00 million for the quarter, compared to analysts’ expectations of $453.04 million. Validus had a negative net margin of 1.38% and a negative return on equity of 0.49%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. equities analysts predict that Validus Holdings, Ltd. will post -0.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, December 14th. Validus’s dividend payout ratio (DPR) is presently -233.84%.
VR has been the subject of a number of research reports. ValuEngine raised shares of Validus from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Validus from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods set a $55.00 price target on shares of Validus and gave the stock a “hold” rating in a research note on Thursday, August 17th. Barclays decreased their price target on shares of Validus from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Finally, UBS decreased their price target on shares of Validus from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average 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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