Neuberger Berman Group LLC decreased its stake in shares of Validus Holdings, Ltd. (NYSE:VR) by 43.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,334 shares of the insurance provider’s stock after selling 3,397 shares during the period. Neuberger Berman Group LLC’s holdings in Validus were worth $213,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Century Capital Management LLC acquired a new position in Validus during the second quarter worth approximately $3,043,000. Prudential Financial Inc. increased its position in Validus by 8.9% during the third quarter. Prudential Financial Inc. now owns 118,278 shares of the insurance provider’s stock worth $5,820,000 after purchasing an additional 9,700 shares during the last quarter. Macquarie Group Ltd. increased its position in Validus by 5.2% during the third quarter. Macquarie Group Ltd. now owns 1,427,096 shares of the insurance provider’s stock worth $70,228,000 after purchasing an additional 70,508 shares during the last quarter. TLP Group LLC acquired a new position in Validus during the second quarter worth approximately $329,000. Finally, Cornerstone Capital Inc. increased its position in Validus by 9.7% during the third quarter. Cornerstone Capital Inc. now owns 330,468 shares of the insurance provider’s stock worth $16,262,000 after purchasing an additional 29,283 shares during the last quarter. 96.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Validus Holdings, Ltd. (VR) opened at $46.20 on Friday. 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 Holdings, Ltd. has a 52 week low of $41.15 and a 52 week high of $58.76. The stock has a market cap of $3,670.00, a P/E ratio of -71.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.52 annualized dividend and a yield of 3.29%. Validus’s dividend payout ratio is currently -233.85%.
In other Validus news, CEO Lixin Zeng sold 26,136 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 57,855 shares in the company, valued at $3,014,245.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Kean Driscoll sold 6,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $50.30, for a total transaction of $345,812.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,886 shares of company stock valued at $2,024,848. 2.33% of the stock is owned by insiders.
Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Validus from a “market perform” rating to an “outperform” rating in a research report on Thursday. UBS Group upped their price target on shares of Validus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Bank of America raised shares of Validus from a “neutral” rating to a “buy” rating in a research report on Monday, October 30th. ValuEngine raised shares of Validus from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, Barclays dropped their price target on shares of Validus from $57.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.83.
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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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