Jane Street Group LLC Takes Position in Validus Holdings, Ltd. (VR)
Jane Street Group LLC purchased a new stake in Validus Holdings, Ltd. (NYSE:VR) during the first quarter, Holdings Channel reports. The fund purchased 15,689 shares of the insurance provider’s stock, valued at approximately $885,000.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Validus Holdings by 2,898.5% in the first quarter. BlackRock Inc. now owns 3,235,863 shares of the insurance provider’s stock valued at $182,471,000 after buying an additional 3,127,947 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Validus Holdings during the first quarter valued at about $54,660,000. Norges Bank purchased a new stake in Validus Holdings during the fourth quarter valued at about $45,554,000. Victory Capital Management Inc. boosted its stake in Validus Holdings by 33.0% in the first quarter. Victory Capital Management Inc. now owns 2,370,761 shares of the insurance provider’s stock valued at $133,687,000 after buying an additional 588,594 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Validus Holdings during the first quarter valued at about $26,981,000. 97.41% of the stock is currently owned by institutional investors.
Shares of Validus Holdings, Ltd. (NYSE VR) remained flat at $52.02 on Tuesday. The stock had a trading volume of 28,062 shares. The firm’s 50 day moving average price is $53.12 and its 200 day moving average price is $55.55. The company has a market cap of $4.12 billion, a PE ratio of 14.78 and a beta of 0.63. Validus Holdings, Ltd. has a 52 week low of $45.39 and a 52 week high of $58.76.
Validus Holdings (NYSE:VR) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by $0.22. Validus Holdings had a net margin of 11.88% and a return on equity of 7.05%. The business had revenue of $990.80 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.39 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Validus Holdings, Ltd. will post $3.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.52 annualized dividend and a yield of 2.92%. Validus Holdings’s dividend payout ratio (DPR) is presently 43.18%.
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Several equities research analysts have issued reports on VR shares. Zacks Investment Research raised shares of Validus Holdings from a “sell” rating to a “hold” rating and set a $62.00 price target on the stock in a research note on Friday, April 7th. Deutsche Bank AG raised their price target on shares of Validus Holdings from $56.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $55.00 price target on shares of Validus Holdings in a research note on Thursday, April 27th. BidaskClub raised shares of Validus Holdings from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, ValuEngine raised shares of Validus Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $58.33.
In other Validus Holdings news, Director Matthew J. Grayson sold 3,000 shares of Validus Holdings stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $54.54, for a total transaction of $163,620.00. Following the transaction, the director now owns 104,520 shares of the company’s stock, valued at approximately $5,700,520.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kean Driscoll sold 4,151 shares of Validus Holdings stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $55.13, for a total value of $228,844.63. Following the transaction, the chief executive officer now directly owns 108,992 shares in the company, valued at approximately $6,008,728.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,302 shares of company stock worth $4,100,477. Company insiders own 2.33% of the company’s stock.
Validus Holdings 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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