Koch Industries Inc. acquired a new stake in XL Group Ltd. (NYSE:XL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 311,405 shares of the insurance provider’s stock, valued at approximately $304,000. Koch Industries Inc. owned approximately 0.12% of XL Group as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in XL. Janus Henderson Group PLC lifted its position in shares of XL Group by 9,672.6% in the second 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 lifted its position in shares of XL Group by 108.0% in the second 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. lifted its position in shares of XL Group by 122.9% in the second 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. Rothschild Asset Management Inc. lifted its position in shares of XL Group by 4,962.0% in the second 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. Finally, Russell Investments Group Ltd. increased its stake in XL Group by 25.8% during the second quarter. Russell Investments Group Ltd. now owns 2,383,700 shares of the insurance provider’s stock worth $104,422,000 after acquiring an additional 488,797 shares during the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.
Several equities research analysts have weighed in on the company. Deutsche Bank AG cut XL Group from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $42.00 to $37.00 in a research note on Friday, October 13th. BidaskClub cut XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Citigroup Inc. cut their target price on XL Group from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Barclays PLC cut their target price on XL Group from $51.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. Finally, TheStreet cut XL Group from a “b” rating to a “c” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.42.
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Shares of XL Group Ltd. (XL) traded down 0.12% during mid-day trading on Friday, hitting $40.80. The stock had a trading volume of 1,934,506 shares. XL Group Ltd. has a 12 month low of $33.22 and a 12 month high of $47.27. The stock’s 50-day moving average is $39.95 and its 200 day moving average is $42.31. The firm has a market cap of $10.52 billion, a PE ratio of 13.34 and a beta of 1.00.
XL Group (NYSE:XL) last posted its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($3.91) by ($0.09). The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Equities research analysts predict that XL Group Ltd. will post ($1.40) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.16%. XL Group’s dividend payout ratio is presently -71.54%.
In related news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the sale, the director now directly owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.02% of the company’s stock.
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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