Diamond Hill Capital Management Inc. Increases Stake in Validus Holdings, Ltd. (NYSE:VR)

Diamond Hill Capital Management Inc. boosted its position in Validus Holdings, Ltd. (NYSE:VR) by 84.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,783,406 shares of the insurance provider’s stock after buying an additional 814,080 shares during the period. Diamond Hill Capital Management Inc. owned approximately 2.25% of Validus Holdings worth $92,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VR. Campbell & CO Investment Adviser LLC purchased a new stake in Validus Holdings during the second quarter worth $296,000. Russell Investments Group Ltd. raised its stake in Validus Holdings by 24.5% in the second quarter. Russell Investments Group Ltd. now owns 191,087 shares of the insurance provider’s stock worth $9,930,000 after buying an additional 37,643 shares during the last quarter. Breton Hill Capital Ltd. raised its stake in Validus Holdings by 4.2% in the second quarter. Breton Hill Capital Ltd. now owns 19,287 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 774 shares during the last quarter. Whittier Trust Co. raised its stake in Validus Holdings by 0.7% in the second quarter. Whittier Trust Co. now owns 78,143 shares of the insurance provider’s stock worth $4,061,000 after buying an additional 527 shares during the last quarter. Finally, US Bancorp DE raised its stake in Validus Holdings by 12.7% in the second quarter. US Bancorp DE now owns 7,939 shares of the insurance provider’s stock worth $413,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Shares of Validus Holdings, Ltd. (VR) opened at 52.46 on Friday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 14.47 and a beta of 0.64. Validus Holdings, Ltd. has a one year low of $48.77 and a one year high of $58.76. The company’s 50 day moving average price is $52.82 and its 200 day moving average price is $54.64.

Validus Holdings (NYSE:VR) last announced its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. Validus Holdings had a return on equity of 7.75% and a net margin of 11.81%. The company had revenue of $675.27 million during the quarter, compared to analyst estimates of $922.84 million. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts expect that Validus Holdings, Ltd. will post $3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.90%. Validus Holdings’s dividend payout ratio (DPR) is presently 41.87%.

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A number of research firms recently weighed in on VR. Keefe, Bruyette & Woods set a $55.00 target price on shares of Validus Holdings and gave the stock a “hold” rating in a research note on Thursday. BidaskClub downgraded Validus Holdings from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research downgraded Validus Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 7th. ValuEngine raised Validus Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Deutsche Bank AG increased their price objective on Validus Holdings from $56.00 to $59.00 and gave the company a “hold” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $57.00.

In other news, Director Matthew J. Grayson sold 5,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $53.50, for a total value of $267,500.00. Following the sale, the director now owns 99,520 shares of the company’s stock, valued at approximately $5,324,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew J. Grayson sold 10,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $53.09, for a total value of $530,900.00. Following the completion of the sale, the director now directly owns 51,393 shares in the company, valued at approximately $2,728,454.37. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $2,959,300 in the last quarter. 2.33% of the stock is currently owned by insiders.

About Validus Holdings

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.

Institutional Ownership by Quarter for Validus Holdings (NYSE:VR)

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