XL Group (NYSE:XL)‘s stock had its “buy” rating reaffirmed by analysts at Barclays in a research report issued on Tuesday, January 9th. They currently have a $42.00 target price on the insurance provider’s stock. Barclays’ target price suggests a potential upside of 18.88% from the company’s current price.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered XL Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 13th. Deutsche Bank lowered XL Group from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $42.00 to $37.00 in a report on Friday, October 13th. Royal Bank of Canada reiterated a “buy” rating and set a $46.00 target price on shares of XL Group in a research note on Friday, December 8th. Bank of America decreased their target price 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 target price on shares of XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. 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 company. The stock has a consensus rating of “Hold” and an average target price of $44.50.
XL Group (NYSE:XL) traded up $0.09 during trading hours on Tuesday, reaching $35.33. The company had a trading volume of 1,565,200 shares, compared to its average volume of 2,355,709. The stock has a market capitalization of $9,021.97, a price-to-earnings ratio of -28.72, a PEG ratio of 1.08 and a beta of 1.00. 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 $33.77 and a 52-week high of $47.27.
XL Group (NYSE:XL) last posted its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the consensus estimate of ($3.91) by ($0.09). The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. equities research analysts anticipate that XL Group will post -1.98 EPS for the current fiscal year.
In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,431,588.45. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.02% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. grew its stake in XL Group by 22.1% in 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 period. Group One Trading L.P. purchased a new stake in XL Group in the 2nd quarter worth approximately $192,000. Menta Capital LLC purchased a new stake in XL Group in the 2nd quarter worth approximately $210,000. Synovus Financial Corp purchased a new stake in XL Group in the 3rd quarter worth approximately $217,000. Finally, Achmea Investment Management B.V. purchased a new stake in XL Group in the 3rd quarter worth approximately $227,000. 98.96% of the stock is owned by institutional investors and hedge funds.
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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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