FineMark National Bank & Trust purchased a new position in XL Group Ltd. (NYSE:XL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,819 shares of the insurance provider’s stock, valued at approximately $308,000.
A number of other hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 384 shares in the last quarter. Manchester Capital Management LLC bought a new stake in XL Group in the second quarter worth $120,000. Advisor Group Inc. boosted its holdings in XL Group by 22.1% in the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 747 shares in the last quarter. Group One Trading L.P. bought a new stake in XL Group in the second quarter worth $192,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in XL Group in the second quarter worth $202,000. 96.67% of the stock is currently owned by institutional investors.
Several research firms have commented on XL. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $45.00 to $52.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $53.00 price target on shares of XL Group in a report on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. XL Group has an average rating of “Hold” and an average target price of $45.50.
Shares of XL Group Ltd. (XL) traded down $0.43 on Friday, reaching $39.71. The company’s stock had a trading volume of 1,779,800 shares, compared to its average volume of 3,407,227. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.34. XL Group Ltd. has a fifty-two week low of $35.70 and a fifty-two week high of $47.27.
XL Group (NYSE:XL) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. research analysts anticipate that XL Group Ltd. will post -1.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, December 14th. XL Group’s dividend payout ratio is currently -71.54%.
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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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