SG Americas Securities LLC raised its holdings in shares of XL Group Ltd. (NYSE:XL) by 349.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,899 shares of the insurance provider’s stock after purchasing an additional 60,571 shares during the quarter. SG Americas Securities LLC’s holdings in XL Group were worth $3,073,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in XL. Great Lakes Advisors LLC raised its holdings in shares of XL Group by 1.4% in the second quarter. Great Lakes Advisors LLC now owns 23,238 shares of the insurance provider’s stock valued at $1,018,000 after acquiring an additional 327 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of XL Group by 4.4% in the second quarter. HighTower Advisors LLC now owns 8,708 shares of the insurance provider’s stock valued at $382,000 after acquiring an additional 370 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 384 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of XL Group by 2.8% in the second quarter. Stifel Financial Corp now owns 14,878 shares of the insurance provider’s stock valued at $650,000 after acquiring an additional 406 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in XL Group by 2.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 23,777 shares of the insurance provider’s stock valued at $1,041,000 after purchasing an additional 486 shares during the last quarter. Institutional investors and hedge funds own 99.06% of the company’s stock.
Several research firms have issued reports on XL. Deutsche Bank lowered XL Group from a “hold” rating to a “sell” rating and cut their target price for the company from $42.00 to $37.00 in a research note on Friday, October 13th. BidaskClub lowered XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Citigroup 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 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 lowered XL Group from a “b” rating to a “c” rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.50.
Shares of XL Group Ltd. (XL) traded down $0.72 during midday trading on Thursday, reaching $36.73. The company had a trading volume of 2,052,961 shares, compared to its average volume of 1,937,878. XL Group Ltd. has a 52-week low of $36.02 and a 52-week high of $47.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35.
XL Group (NYSE:XL) last announced 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). XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. sell-side analysts predict that XL Group Ltd. will post -1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, December 14th. XL Group’s payout ratio is presently -71.54%.
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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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