JMP Securities cut shares of XL Group (NYSE:XL) from an outperform rating to a market perform rating in a research report report published on Monday morning, MarketBeat.com reports.
Several other research firms have also recently commented on XL. Zacks Investment Research cut XL Group from a hold rating to a strong sell rating in a research note on Wednesday, December 13th. Deutsche Bank upgraded XL Group from a sell rating to a hold rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods cut XL Group from an outperform rating to a market perform rating in a research note on Thursday, March 8th. TheStreet upgraded XL Group from a c+ rating to a b- rating in a research note on Monday, February 26th. Finally, Citigroup upped their price objective on XL Group from $43.00 to $57.60 and gave the stock a neutral rating in a research note on Friday, March 9th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $46.72.
Shares of XL Group (NYSE:XL) opened at $55.45 on Monday. The company has a market capitalization of $14,330.00, a P/E ratio of -25.67, a price-to-earnings-growth ratio of 1.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.36 and a quick ratio of 0.36. XL Group has a 12 month low of $33.77 and a 12 month high of $56.39.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, March 14th. XL Group’s dividend payout ratio is currently -40.74%.
In other news, General Counsel Gould Kirstin Romann sold 62,290 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.09, for a total transaction of $2,684,076.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Lee Cross sold 20,000 shares of the stock in a transaction on Friday, February 2nd. The shares were 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 owns 58,688 shares in the company, valued at approximately $2,288,832. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,290 shares of company stock worth $7,078,776. Company insiders own 3.02% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in XL Group by 2.4% in the 4th quarter. Bank of Montreal Can now owns 435,715 shares of the insurance provider’s stock valued at $15,320,000 after acquiring an additional 10,378 shares during the period. AXA bought a new stake in XL Group in the 3rd quarter valued at $5,863,000. Janus Henderson Group PLC raised its stake in XL Group by 45.1% in the 3rd 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. Boston Partners raised its stake in XL Group by 112.6% in the 4th 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. Finally, AMP Capital Investors Ltd raised its stake in XL Group by 6.6% in the 3rd quarter. AMP Capital Investors Ltd now owns 234,187 shares of the insurance provider’s stock valued at $9,240,000 after acquiring an additional 14,452 shares during the period. Institutional investors and hedge funds 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).
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