Bank of New York Mellon Corp reduced its position in shares of Validus Holdings, Ltd. (NYSE:VR) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,504 shares of the insurance provider’s stock after selling 19,556 shares during the period. Bank of New York Mellon Corp owned approximately 0.39% of Validus worth $21,058,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Citadel Advisors LLC increased its stake in Validus by 3,594.8% in the 1st quarter. Citadel Advisors LLC now owns 1,916,877 shares of the insurance provider’s stock worth $129,293,000 after purchasing an additional 1,864,997 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Validus in the 1st quarter worth about $116,635,000. Water Island Capital LLC purchased a new position in Validus during the 1st quarter valued at about $67,362,000. Citigroup Inc. grew its stake in Validus by 10,664.9% during the 1st quarter. Citigroup Inc. now owns 733,737 shares of the insurance provider’s stock valued at $49,490,000 after acquiring an additional 726,921 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Validus by 244.0% during the 1st quarter. Allianz Asset Management GmbH now owns 648,435 shares of the insurance provider’s stock valued at $43,737,000 after acquiring an additional 459,925 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine raised Validus from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $51.00.
Shares of Validus stock opened at $67.99 on Friday. The stock has a market cap of $5.39 billion, a PE ratio of -63.54, a PEG ratio of 1.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97. Validus Holdings, Ltd. has a 52-week low of $41.15 and a 52-week high of $68.00.
In other news, CEO Peter Anthony Bilsby sold 24,813 shares of Validus stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $67.87, for a total transaction of $1,684,058.31. Following the completion of the sale, the chief executive officer now directly owns 41,116 shares in the company, valued at approximately $2,790,542.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Kean Driscoll sold 6,875 shares of Validus stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $67.58, for a total value of $464,612.50. Following the sale, the president now owns 92,709 shares of the company’s stock, valued at $6,265,274.22. The disclosure for this sale can be found here. 2.33% of the stock is owned by 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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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