XL Group Ltd. (NYSE:XL) had its price target reduced by Bank of America Corporation from $49.00 to $47.00 in a report issued on Thursday. They currently have a buy rating on the insurance provider’s stock.
Several other research analysts have also weighed in on the company. UBS AG dropped their target price on XL Group from $46.00 to $44.00 and set a buy rating on the stock in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $50.00 target price on shares of XL Group in a research report on Thursday, September 21st. BidaskClub lowered XL Group from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Buckingham Research started coverage on XL Group in a research report on Monday, September 11th. They issued a neutral rating and a $42.00 target price on the stock. Finally, Barclays PLC reaffirmed an overweight rating and issued a $51.00 target price (up from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $45.67.
Shares of XL Group (XL) opened at 41.51 on Thursday. The stock has a market cap of $10.71 billion, a PE ratio of 13.57 and a beta of 1.00. XL Group has a 12-month low of $33.22 and a 12-month high of $47.27. The firm has a 50-day moving average price of $39.62 and a 200 day moving average price of $42.20.
XL Group (NYSE:XL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the previous year, the firm earned $0.37 earnings per share. Equities research analysts predict that XL Group will post ($1.00) EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, September 14th. XL Group’s dividend payout ratio is 28.57%.
In other news, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the transaction, the director now owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.02% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Bank of Nova Scotia boosted its stake in XL Group by 0.9% during the 1st quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock valued at $250,000 after purchasing an additional 54 shares during the period. Mackenzie Financial Corp boosted its stake in XL Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock valued at $354,000 after purchasing an additional 79 shares during the period. DnB Asset Management AS boosted its stake in XL Group by 0.7% during the 2nd quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock valued at $1,349,000 after purchasing an additional 200 shares during the period. Great Lakes Advisors LLC boosted its stake in XL Group by 1.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 23,238 shares of the insurance provider’s stock valued at $1,018,000 after purchasing an additional 327 shares during the period. Finally, HighTower Advisors LLC boosted its stake in XL Group by 4.4% during the 2nd quarter. HighTower Advisors LLC now owns 8,708 shares of the insurance provider’s stock valued at $382,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.
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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