Shares of XL Group Ltd. (NYSE:XL) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.90.
A number of research analysts have commented on XL shares. ValuEngine raised shares of XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price target on shares of XL Group in a research report on Wednesday, July 12th. BidaskClub raised shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG raised their target price on shares of XL Group from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Zacks Investment Research raised shares of XL Group from a “sell” rating to a “hold” rating in a report on Friday, July 28th.
In other news, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the sale, the director now owns 55,008 shares in the company, valued at $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne Stevens sold 1,700 shares of the company’s stock in a transaction 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 sale, 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. In the last three months, insiders sold 183,293 shares of company stock valued at $7,767,012. Company insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after buying an additional 384 shares during the last quarter. Manchester Capital Management LLC bought a new position in shares of XL Group during the second quarter worth approximately $120,000. Pinnacle Financial Partners Inc. bought a new position in shares of XL Group during the second quarter worth approximately $202,000. Menta Capital LLC bought a new position in shares of XL Group during the second quarter worth approximately $210,000. Finally, Creative Planning raised its position in shares of XL Group by 60.7% in the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock worth $232,000 after buying an additional 2,001 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.
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Shares of XL Group (NYSE XL) traded down 0.02% during midday trading on Monday, hitting $44.49. 357,594 shares of the stock traded hands. XL Group has a 52 week low of $32.81 and a 52 week high of $47.27. The firm has a market capitalization of $11.48 billion, a PE ratio of 14.55 and a beta of 1.02. The company’s 50-day moving average is $44.71 and its 200 day moving average is $41.86.
XL Group (NYSE:XL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Analysts anticipate that XL Group will post $3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. XL Group’s payout ratio is 28.57%.
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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