Barrow Hanley Mewhinney & Strauss LLC Purchases New Position in Validus Holdings, Ltd. (VR)
Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Validus Holdings, Ltd. (NYSE:VR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,595,400 shares of the insurance provider’s stock, valued at approximately $78,510,000. Barrow Hanley Mewhinney & Strauss LLC owned about 2.01% of Validus at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Federated Investors Inc. PA boosted its position in shares of Validus by 3.4% in the second quarter. Federated Investors Inc. PA now owns 186,103 shares of the insurance provider’s stock worth $9,672,000 after acquiring an additional 6,081 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Validus by 183.8% in the second quarter. Principal Financial Group Inc. now owns 1,655,977 shares of the insurance provider’s stock worth $86,061,000 after acquiring an additional 1,072,405 shares during the last quarter. Airain ltd acquired a new stake in shares of Validus in the second quarter worth approximately $1,437,000. Century Capital Management LLC acquired a new stake in shares of Validus in the second quarter worth approximately $3,043,000. Finally, Prudential Financial Inc. boosted its position in shares of Validus by 8.9% in the third quarter. Prudential Financial Inc. now owns 118,278 shares of the insurance provider’s stock worth $5,820,000 after acquiring an additional 9,700 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.
VR has been the topic of several research reports. BidaskClub lowered shares of Validus from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. ValuEngine upgraded shares of Validus from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Buckingham Research initiated coverage on shares of Validus in a report on Monday, September 11th. They issued a “buy” rating and a $52.00 price target on the stock. UBS cut their price target on shares of Validus from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, September 19th. Finally, Zacks Investment Research lowered shares of Validus from a “hold” rating to a “strong sell” rating in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.83.
In other news, President Kean Driscoll sold 6,875 shares of Validus 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lixin Zeng sold 26,136 shares of Validus 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 approximately $3,014,245.50. The disclosure for this sale can be found here. Company insiders own 2.33% of the company’s stock.
Validus Holdings, Ltd. (NYSE:VR) traded up $0.69 during midday trading on Friday, reaching $46.85. 1,090,000 shares of the company traded hands, compared to its average volume of 807,242. Validus Holdings, Ltd. has a 52-week low of $41.15 and a 52-week high of $58.76. 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 (NYSE:VR) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported ($3.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $407.00 million for the quarter, compared to analyst estimates of $453.04 million. During the same quarter last year, the firm posted $1.02 earnings per share. Validus’s revenue for the quarter was up 24.3% compared to the same quarter last year. equities research analysts predict that Validus Holdings, Ltd. will post -0.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.24%. Validus’s dividend payout ratio is currently -233.85%.
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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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