JP Morgan Initiates Coverage on Validus Holdings Ltd. to Overweight

JP Morgan Initiates Coverage on Validus Holdings Ltd.(NYSE:VR). The shares have been rated Overweight. The rating by JP Morgan was issued on Jun 28, 2016.

In a different note, On May 2, 2016, Bank of America said it Upgrades its rating on Validus Holdings Ltd.. The shares have been rated ‘Neutral’ by the firm.

Validus Holdings Ltd. (VR) shares turned negative on Fridays trading session with the shares closing down -0.23 points or -0.47% at a volume of 4,47,294. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.62. The peak price level was also seen at $48.62 while the days lowest was $47.9. Finally the shares closed at $48.36. The 52-week high of the shares is $48.77 while the 52-week low is $41.73. According to the latest information available, the market cap of the company is $3,943 M.

Validus Holdings Ltd.(VR) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $571.27M. Analysts had an estimated revenue of $560.34M. Earnings per share were $1.39. Analysts had estimated an EPS of $1.23.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Patrick Boisvert (Group Chief Accounting Officer) sold 1,500 shares at $48.00 per share price.Also, On Jun 3, 2016, Lixin Zeng (CEO AlphaCat Managers) sold 4,887 shares at $48.36 per share price.On May 5, 2016, Andrew E. Kudera (EVP, Chief Actuary) sold 10,000 shares at $46.72 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.

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