Fmr LLC decreased its stake in XL Group Ltd (NYSE:XL) by 95.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,093 shares of the insurance provider’s stock after selling 1,378,846 shares during the quarter. Fmr LLC’s holdings in XL Group were worth $3,754,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in XL. Piedmont Investment Advisors LLC acquired a new position in XL Group during the second quarter worth about $167,000. Cerebellum GP LLC acquired a new position in XL Group during the second quarter worth about $185,000. Mount Yale Investment Advisors LLC acquired a new position in XL Group during the first quarter worth about $243,000. Cambria Investment Management L.P. acquired a new position in XL Group during the second quarter worth about $256,000. Finally, Mcdonald Capital Investors Inc. CA acquired a new position in XL Group during the second quarter worth about $302,000. Institutional investors and hedge funds own 78.52% of the company’s stock.
XL opened at $57.59 on Friday. The stock has a market cap of $14.90 billion, a P/E ratio of -28.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. XL Group Ltd has a twelve month low of $33.77 and a twelve month high of $57.60. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.29.
XL Group (NYSE:XL) last posted its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. XL Group had a negative return on equity of 4.21% and a negative net margin of 4.67%. Equities analysts predict that XL Group Ltd will post 3.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. XL Group’s payout ratio is presently -43.78%.
Separately, Zacks Investment Research upgraded shares of XL Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.80.
XL Group Company Profile
XL Group Ltd, through its subsidiaries, operates as an insurance and reinsurance company worldwide. The company's Insurance segment offers primary and excess casualty, environmental liability, professional liability, property, excess and surplus lines, U.S. program/facilities, and construction business products.
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