Validus Holdings, Ltd. (NYSE:VR) declared a quarterly dividend on Wednesday, November 1st, Zacks reports. Investors of record on Friday, December 15th will be given a dividend of 0.38 per share by the insurance provider on Friday, December 29th. This represents a $1.52 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 14th.
Validus has raised its dividend by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 2 years. Validus has a dividend payout ratio of -950.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Validus to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 36.9%.
Validus (VR) traded up $0.42 during midday trading on Friday, reaching $46.77. The company had a trading volume of 814,330 shares, compared to its average volume of 622,756. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. Validus has a 12 month low of $41.15 and a 12 month high of $58.76.
Validus (NYSE:VR) last released its earnings results on Thursday, October 26th. The insurance provider reported ($3.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.30) by $0.08. The company had revenue of $407.00 million for the quarter, compared to the consensus estimate of $453.04 million. Validus had a negative return on equity of 0.49% and a negative net margin of 1.38%. Validus’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. equities research analysts anticipate that Validus will post -0.16 EPS for the current year.
Several research firms recently weighed in on VR. BidaskClub upgraded Validus from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods set a $55.00 price objective on Validus and gave the company a “hold” rating in a research report on Thursday, August 17th. ValuEngine upgraded Validus from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Bank of America upgraded Validus from a “neutral” rating to a “buy” rating in a research report on Monday, October 30th. Finally, UBS boosted their price objective on Validus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.83.
In other news, CEO Lixin Zeng sold 26,136 shares of Validus stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $52.10, for a total value of $1,361,685.60. Following the sale, the chief executive officer now directly owns 57,855 shares of the company’s stock, valued at $3,014,245.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kean Driscoll sold 6,875 shares of Validus stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $50.30, for a total value of $345,812.50. The disclosure for this sale can be found here. 2.33% of the stock is owned by insiders.
A hedge fund recently raised its stake in Validus stock. The Manufacturers Life Insurance Company lifted its position in Validus Holdings, Ltd. (NYSE:VR) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,382 shares of the insurance provider’s stock after purchasing an additional 219 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Validus were worth $124,000 at the end of the most recent reporting period. Institutional investors own 96.35% of the company’s stock.
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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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