Delek Group Ltd. Takes $7.96 Million Position in Validus Holdings, Ltd. (VR)
Delek Group Ltd. acquired a new stake in Validus Holdings, Ltd. (NYSE:VR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 168,595 shares of the insurance provider’s stock, valued at approximately $7,963,000. Delek Group Ltd. owned 0.21% of Validus as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Boston Partners increased its stake in shares of Validus by 1,009.9% in the 4th quarter. Boston Partners now owns 4,279,398 shares of the insurance provider’s stock valued at $200,789,000 after purchasing an additional 3,893,816 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Validus by 3.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,463,909 shares of the insurance provider’s stock valued at $121,248,000 after purchasing an additional 76,636 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Validus by 42.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,266,264 shares of the insurance provider’s stock valued at $106,333,000 after purchasing an additional 670,864 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Validus by 73.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,985,484 shares of the insurance provider’s stock valued at $93,159,000 after purchasing an additional 837,887 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Validus by 13.7% in the 3rd quarter. Schroder Investment Management Group now owns 1,831,428 shares of the insurance provider’s stock valued at $88,440,000 after purchasing an additional 220,900 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.
Shares of Validus stock opened at $67.50 on Thursday. Validus Holdings, Ltd. has a 52 week low of $41.15 and a 52 week high of $67.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $5,354.48, a P/E ratio of -78.45, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.52 annualized dividend and a yield of 2.25%. Validus’s dividend payout ratio (DPR) is currently -176.74%.
Several equities analysts recently weighed in on VR shares. Zacks Investment Research restated a “strong sell” rating on shares of Validus in a research note on Saturday, January 6th. Buckingham Research lowered Validus from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 13th. JMP Securities lowered Validus from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods lowered Validus from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Barclays restated a “hold” rating and issued a $50.00 price target on shares of Validus in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.80.
In other news, President Kean Driscoll sold 6,875 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $46.78, for a total value of $321,612.50. Following the completion of the sale, the president now directly owns 103,983 shares in the company, valued at $4,864,324.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E.A. Carpenter sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $67.70, for a total value of $677,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,625 shares of company stock valued at $1,926,463. 2.33% of the stock is owned by company insiders.
Validus Holdings, Ltd. provides reinsurance coverage, insurance coverage, and insurance linked securities management services worldwide. It operates through three segments: Reinsurance, Insurance, and Asset Management. The Reinsurance segment underwrites property reinsurance products on a catastrophe excess of loss, per risk excess of loss and proportional basis; and aerospace and aviation, agriculture, composite, marine, technical lines, terrorism, trade credit, workers' compensation, and other specialty lines, as well as casualty and financial lines.
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