XL Group Ltd. (NYSE:XL) had its target price decreased by Citigroup Inc. from $43.00 to $41.00 in a report released on Monday morning. Citigroup Inc. currently has a neutral rating on the insurance provider’s stock.
A number of other analysts have also recently issued reports on XL. BidaskClub raised XL Group from a hold rating to a buy rating in a research report on Tuesday, June 20th. Barclays PLC reissued an overweight rating and issued a $51.00 target price (up from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Morgan Stanley reissued an overweight rating and issued a $50.00 target price (up from $46.00) on shares of XL Group in a research report on Friday, July 7th. Royal Bank Of Canada reissued a buy rating and issued a $46.00 target price on shares of XL Group in a research report on Wednesday, July 12th. Finally, Zacks Investment Research cut XL Group from a hold rating to a sell rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $45.73.
XL Group (XL) opened at 39.15 on Monday. The stock has a market capitalization of $10.10 billion, a PE ratio of 12.80 and a beta of 1.00. XL Group has a 52 week low of $33.01 and a 52 week high of $47.27. The stock has a 50 day moving average price of $40.47 and a 200 day moving average price of $42.19.
XL Group (NYSE:XL) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the prior year, the firm earned $0.37 EPS. Equities analysts forecast that XL Group will post $1.75 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, September 14th. XL Group’s dividend payout ratio is presently 28.57%.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the completion of the sale, the director now directly owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.02% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of XL. BlackRock Inc. raised its stake in shares of XL Group by 3,113.6% during the 1st quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after buying an additional 18,311,662 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of XL Group by 9,672.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after buying an additional 3,457,972 shares in the last quarter. Numeric Investors LLC raised its stake in shares of XL Group by 108.0% during the 2nd quarter. Numeric Investors LLC now owns 1,448,295 shares of the insurance provider’s stock worth $63,435,000 after buying an additional 752,100 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of XL Group by 122.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,042,682 shares of the insurance provider’s stock worth $45,668,000 after buying an additional 574,914 shares in the last quarter. Finally, Rothschild Asset Management Inc. raised its stake in shares of XL Group by 4,962.0% during the 2nd quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock worth $25,416,000 after buying an additional 568,798 shares in the last quarter. 95.26% of the stock is owned by institutional investors and hedge funds.
About XL Group
XL Group plc is an insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises. The Company operates through two segments: Insurance and Reinsurance. The Company’s Insurance segment is organized into four product divisions: Global Casualty (Casualty); Global Energy Property, & Construction (EPC); Global Professional (Professional), and Global Specialty (Specialty).
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