UBS cut shares of XL Group (NYSE:XL) from a buy rating to a neutral rating in a report released on Monday, www.benzinga.com reports. They currently have $45.00 price target on the insurance provider’s stock.
A number of other analysts have also issued reports on the company. TheStreet raised XL Group from a c+ rating to a b- rating in a research report on Monday, February 26th. Barclays reaffirmed a buy rating and set a $42.00 target price on shares of XL Group in a research report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a buy rating and set a $46.00 target price on shares of XL Group in a research report on Friday, December 8th. Deutsche Bank raised XL Group from a sell rating to a hold rating in a research report on Thursday, February 8th. Finally, Zacks Investment Research raised XL Group from a strong sell rating to a hold rating in a research report on Tuesday, November 28th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $46.72.
XL Group stock opened at $55.44 on Monday. The company has a market capitalization of $14,166.36, a PE ratio of -24.75, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75. XL Group has a one year low of $33.77 and a one year high of $56.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.36 and a current ratio of 0.36.
XL Group (NYSE:XL) last issued its quarterly earnings data on Thursday, February 1st. The insurance provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.73 billion. XL Group had a negative return on equity of 4.25% and a negative net margin of 4.95%. During the same quarter in the previous year, the firm posted $0.47 earnings per share. sell-side analysts expect that XL Group will post 3.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, March 14th. XL Group’s dividend payout ratio is currently -39.29%.
In related news, insider Susan Lee Cross sold 20,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $39.00, for a total value of $780,000.00. Following the completion of the sale, the insider now directly owns 58,688 shares of the company’s stock, valued at $2,288,832. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Gould Kirstin Romann sold 62,290 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.09, for a total value of $2,684,076.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,290 shares of company stock valued at $7,078,776. 3.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in XL Group by 5.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,073,834 shares of the insurance provider’s stock valued at $635,477,000 after acquiring an additional 1,000,934 shares during the period. Boston Partners boosted its stake in XL Group by 112.6% in the fourth quarter. Boston Partners now owns 11,902,560 shares of the insurance provider’s stock valued at $418,494,000 after acquiring an additional 6,304,849 shares during the period. JPMorgan Chase & Co. boosted its stake in XL Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 8,783,932 shares of the insurance provider’s stock valued at $343,540,000 after acquiring an additional 925,470 shares during the period. Janus Henderson Group PLC boosted its stake in XL Group by 45.1% in the third quarter. Janus Henderson Group PLC now owns 5,071,040 shares of the insurance provider’s stock valued at $200,052,000 after acquiring an additional 1,577,318 shares during the period. Finally, Altrinsic Global Advisors LLC boosted its stake in XL Group by 28.1% in the fourth quarter. Altrinsic Global Advisors LLC now owns 4,064,274 shares of the insurance provider’s stock valued at $142,900,000 after acquiring an additional 891,929 shares during the period. Institutional investors own 98.97% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “XL Group (XL) Cut to “Neutral” at UBS” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/20/xl-group-xl-cut-to-neutral-at-ubs.html.
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).
Receive News & Ratings for XL Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XL Group and related companies with MarketBeat.com's FREE daily email newsletter.