Municipal Employees Retirement System of Michigan boosted its stake in XL Group Ltd. (NYSE:XL) by 233.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 29,200 shares of the insurance provider’s stock after buying an additional 20,430 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in XL Group were worth $1,279,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in XL. Kwmg LLC boosted its stake in XL Group by 7.0% in the second quarter. Kwmg LLC now owns 40,487 shares of the insurance provider’s stock valued at $1,773,000 after buying an additional 2,633 shares during the period. Boston Advisors LLC boosted its stake in XL Group by 37.5% in the second quarter. Boston Advisors LLC now owns 542,937 shares of the insurance provider’s stock valued at $23,781,000 after buying an additional 147,987 shares during the period. Parametrica Management Ltd purchased a new stake in XL Group during the second quarter valued at $348,000. Russell Investments Group Ltd. boosted its stake in XL Group by 25.8% in the second quarter. Russell Investments Group Ltd. now owns 2,383,700 shares of the insurance provider’s stock valued at $104,422,000 after buying an additional 488,797 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new stake in XL Group during the second quarter valued at $788,000. Institutional investors own 98.88% of the company’s stock.
Shares of XL Group Ltd. (XL) traded down 0.39% during trading on Friday, reaching $43.79. The company’s stock had a trading volume of 1,644,772 shares. XL Group Ltd. has a 52-week low of $32.81 and a 52-week high of $47.27. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 14.32 and a beta of 1.02. The stock’s 50 day moving average price is $44.81 and its 200-day moving average price is $42.15.
XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the Zacks’ 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 last year, the company earned $0.37 EPS. Equities analysts anticipate that XL Group Ltd. will post $3.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.01%. XL Group’s dividend payout ratio is currently 28.57%.
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Several analysts have recently weighed in on the company. BidaskClub cut XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised XL Group from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $52.00 in a research note on Friday, July 28th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. lifted their price objective on XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.90.
In other news, insider W Myron Hendry sold 85,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the completion of the transaction, the insider now owns 57,525 shares in the company, valued at approximately $2,422,953. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne Stevens sold 1,700 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $43.55, for a total value of $74,035.00. Following the completion of the transaction, the director now owns 13,710 shares of the company’s stock, valued at approximately $597,070.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,293 shares of company stock worth $7,767,012. Corporate insiders own 2.59% 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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