XL Group (NYSE:XL)‘s stock had its “buy” rating reaffirmed by Barclays in a note issued to investors on Tuesday. They currently have a $42.00 price objective on the insurance provider’s stock. Barclays’ price target suggests a potential upside of 22.70% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of XL Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 13th. Deutsche Bank downgraded shares of XL Group from a “hold” rating to a “sell” rating and dropped their price objective for the company from $42.00 to $37.00 in a research note on Friday, October 13th. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of XL Group in a research note on Friday, December 8th. Bank of America dropped their price objective on shares of XL Group from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 12th. Finally, Credit Suisse Group increased their price objective on shares of XL Group from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $44.50.
Shares of XL Group (NYSE:XL) traded up $0.02 during trading on Tuesday, hitting $34.23. 2,032,800 shares of the stock were exchanged, compared to its average volume of 2,247,700. XL Group has a 12 month low of $33.77 and a 12 month 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. The company has a market cap of $8,760.00, a P/E ratio of -29.01, a PEG ratio of 1.06 and a beta of 1.00.
XL Group (NYSE:XL) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company posted $0.44 EPS. The business’s revenue was up 9.0% on a year-over-year basis. equities analysts predict that XL Group will post -1.94 earnings per share for the current year.
In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $36.59, for a total value of $98,683.23. Following the completion of the transaction, the director now directly owns 66,455 shares in the company, valued at approximately $2,431,588.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.02% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. increased its position in XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 747 shares during the period. Group One Trading L.P. acquired a new position in XL Group in the 2nd quarter valued at approximately $192,000. Menta Capital LLC acquired a new position in XL Group in the 2nd quarter valued at approximately $210,000. Synovus Financial Corp acquired a new position in XL Group in the 3rd quarter valued at approximately $217,000. Finally, Achmea Investment Management B.V. acquired a new position in XL Group in the 3rd quarter valued at approximately $227,000. Hedge funds and other institutional investors own 98.96% 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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