Validus Holdings Ltd. (VR) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on May 2, 2016.
On the company’s financial health, Validus Holdings Ltd. reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.25. The company had revenue of $1004.90 million for the quarter, compared to analysts expectations of $993.50 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS.
Validus Holdings Ltd. closed down -0.24 points or -0.53% at $44.9 with 6,14,056 shares getting traded on Wednesday. Post opening the session at $44.91, the shares hit an intraday low of $44.77 and an intraday high of $45.16 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 7, 2016, Jeffrey W. Greenberg (director) sold 174,514 shares at $46.41 per share price. According to the SEC, on Apr 7, 2016, Christopher E Watson (director) sold 381 shares at $46.41 per share price. On Mar 24, 2016, Michael E.a. Carpenter (director) sold 3,118 shares at $46.83 per share price, according to the Form-4 filing with the securities and exchange commission.
Validus Holdings Ltd. is a holding company. The Company through its subsidiaries is engaged in the global insurance and reinsurance. The Company operates in four segments: Validus Re AlphaCat Talbot and Western World. Validus Re is a Bermuda-based reinsurance segment focused on short tail lines of reinsurance. AlphaCat is a Bermuda-based investment adviser managing capital from third parties and the Company in insurance linked securities and other investments in the property catastrophe reinsurance space. Talbot is a specialty insurance segment primarily operating within the Lloyd’s insurance market through Syndicate 1183. Western World is a specialty excess and surplus lines insurance segment operating within the United States commercial market.