XL Group (XL) Receives Overweight Rating from Barclays

XL Group (NYSE:XL)‘s stock had its “overweight” rating restated by equities researchers at Barclays in a research note issued on Tuesday, MarketBeat reports. They currently have a $50.00 price objective on the insurance provider’s stock, up from their prior price objective of $42.00. Barclays’ target price indicates a potential upside of 15.90% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 13th. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 target price on shares of XL Group in a research note on Friday, December 8th. Credit Suisse Group upped their target price 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. Citigroup upped their target price on shares of XL Group from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, UBS Group upped their target price on shares of XL Group from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. XL Group has an average rating of “Hold” and an average target price of $45.33.

XL Group (NYSE XL) traded up $0.14 during trading hours on Tuesday, hitting $43.14. 548,080 shares of the stock traded hands, compared to its average volume of 4,053,396. XL Group has a one year low of $33.77 and a one year high of $47.27. The company has a current ratio of 0.08, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.

XL Group (NYSE:XL) last posted its earnings results on Thursday, February 1st. The insurance provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.07. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.73 billion. XL Group had a negative net margin of 4.95% and a negative return on equity of 4.25%. During the same quarter in the previous year, the firm posted $0.47 earnings per share. research analysts expect that XL Group will post 3.69 earnings per share for the current year.

In other news, CFO Stephen Robb sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $40.00, for a total transaction of $800,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Kcb Vereker sold 2,697 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $36.59, for a total transaction of $98,683.23. Following the transaction, the director now owns 66,455 shares in the company, valued at $2,431,588.45. The disclosure for this sale can be found here. Insiders have sold 112,697 shares of company stock worth $4,493,383 over the last ninety days. Insiders own 3.02% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of XL Group by 107.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 34,786 shares of the insurance provider’s stock worth $1,223,000 after purchasing an additional 17,985 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of XL Group by 39.4% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,738 shares of the insurance provider’s stock worth $659,000 after purchasing an additional 5,300 shares in the last quarter. LPL Financial LLC acquired a new position in shares of XL Group during the fourth quarter worth approximately $357,000. Millennium Management LLC acquired a new position in shares of XL Group during the fourth quarter worth approximately $3,979,000. Finally, Sciencast Management LP acquired a new position in shares of XL Group during the fourth quarter worth approximately $507,000. Institutional investors own 98.97% 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).

Analyst Recommendations for XL Group (NYSE:XL)

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