ValuEngine cut shares of XL Group (NYSE:XL) from a hold rating to a sell rating in a report released on Friday morning.
Several other equities analysts have also recently weighed in on XL. BidaskClub cut XL Group from a buy rating to a hold rating in a report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $53.00 price objective on shares of XL Group in a report on Tuesday, August 29th. Buckingham Research started coverage on XL Group in a report on Monday, September 11th. They issued a neutral rating and a $42.00 price objective for the company. UBS dropped their price objective on XL Group from $48.00 to $46.00 and set a buy rating for the company in a report on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $50.00 price objective on shares of XL Group in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. XL Group presently has a consensus rating of Hold and a consensus target price of $45.50.
Shares of XL Group (XL) traded down $0.51 during midday trading on Friday, reaching $37.94. The company’s stock had a trading volume of 2,503,400 shares, compared to its average volume of 1,938,272. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28. XL Group has a 52-week low of $36.02 and a 52-week high of $47.27.
XL Group (NYSE:XL) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. equities research analysts forecast that XL Group will post -1.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. XL Group’s payout ratio is -74.58%.
Several institutional investors and hedge funds have recently modified their holdings of XL. IFP Advisors Inc grew its position in XL Group by 19.9% during the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 384 shares during the last quarter. Manchester Capital Management LLC bought a new stake in XL Group during the 2nd quarter worth $120,000. Advisor Group Inc. grew its position in XL Group by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 747 shares during the last quarter. Group One Trading L.P. bought a new stake in XL Group during the 2nd quarter worth $192,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in XL Group during the 2nd quarter worth $202,000. Institutional investors own 99.06% of the company’s stock.
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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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