XL Group Ltd. (NYSE:XL) had its price objective trimmed by Barclays PLC from $51.00 to $47.00 in a research report sent to investors on Monday, October 16th. The firm currently has an overweight rating on the insurance provider’s stock.
Several other brokerages have also issued reports on XL. Bank of America Corporation decreased their price target on shares of XL Group from $49.00 to $47.00 and set a buy rating for the company in a research note on Thursday, October 12th. UBS AG decreased their price target on shares of XL Group from $46.00 to $44.00 and set a buy rating for the company in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a buy rating and set a $50.00 price target on shares of XL Group in a research note on Thursday, September 21st. BidaskClub lowered shares of XL Group from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Finally, Buckingham Research initiated coverage on shares of XL Group in a research note on Monday, September 11th. They set a neutral rating and a $42.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. XL Group presently has an average rating of Hold and an average price target of $45.42.
XL Group (XL) opened at 40.80 on Monday. XL Group has a 12 month low of $33.22 and a 12 month high of $47.27. The firm’s 50-day moving average price is $39.95 and its 200-day moving average price is $42.31. The firm has a market cap of $10.52 billion, a P/E ratio of 13.34 and a beta of 1.00.
XL Group (NYSE:XL) last posted its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business earned $0.44 EPS. XL Group’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that XL Group will post ($1.40) EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.16%. XL Group’s dividend payout ratio (DPR) is currently -71.54%.
In other news, Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction of $135,565.65. Following the completion of the transaction, the director now directly owns 55,008 shares in the company, valued at approximately $2,450,606.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.02% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of XL Group by 19.9% during the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 384 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of XL Group during the 2nd quarter valued at $120,000. Advisor Group Inc. grew its position in shares of XL Group by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 747 shares in the last quarter. Group One Trading L.P. purchased a new position in shares of XL Group during the 2nd quarter valued at $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of XL Group during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 95.40% of the company’s stock.
XL Group Company Profile
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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