Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of XL Group Ltd. (NYSE:XL) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,275 shares of the insurance provider’s stock after purchasing an additional 2,728 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in XL Group were worth $2,023,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of XL. IFP Advisors Inc boosted its stake 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 buying an additional 384 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in XL Group in the second quarter worth approximately $120,000. Advisor Group Inc. boosted its stake 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 buying an additional 747 shares in the last quarter. Group One Trading L.P. purchased a new stake in XL Group in the second quarter worth approximately $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in XL Group in the second quarter worth approximately $202,000. 96.67% of the stock is owned by institutional investors.
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XL Group Ltd. (NYSE:XL) opened at $39.71 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.34 and a debt-to-equity ratio of 0.28. XL Group Ltd. has a twelve month low of $35.70 and a twelve month high of $47.27.
XL Group (NYSE:XL) last announced its 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 business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.11 billion. XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. XL Group’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. equities 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 issued a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.22%. XL Group’s dividend payout ratio is presently -71.54%.
Several analysts have issued reports on XL shares. Zacks Investment Research lowered XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $52.00 in a research note on Friday, July 28th. BidaskClub lowered XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 target price on shares of XL Group in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.50.
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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