XL Group PLC (XL) Forecasted to Post Q3 2016 Earnings of $0.38 Per Share
XL Group PLC (NYSE:XL) – Research analysts at FBR & Co lowered their Q3 2016 earnings estimates for shares of XL Group PLC in a report released on Tuesday. FBR & Co analyst R. Binner now forecasts that the brokerage will post earnings per share of $0.38 for the quarter, down from their prior estimate of $0.39.
A number of other analysts have also recently issued reports on XL. Citigroup Inc. reissued a “neutral” rating on shares of XL Group PLC in a report on Tuesday, June 21st. Zacks Investment Research cut XL Group PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 29th. Bank of America Corp. reissued a “buy” rating and set a $44.00 price objective on shares of XL Group PLC in a report on Thursday, July 14th. Deutsche Bank AG increased their price objective on XL Group PLC from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. Finally, Credit Suisse Group AG set a $37.00 price objective on XL Group PLC and gave the stock a “hold” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.78.
XL Group PLC (NYSE:XL) traded up 0.20% during mid-day trading on Wednesday, hitting $34.47. The stock had a trading volume of 341,188 shares. XL Group PLC has a 52 week low of $30.33 and a 52 week high of $40.48. The company’s 50 day moving average price is $34.11 and its 200 day moving average price is $33.86. The firm has a market cap of $9.48 billion, a PE ratio of 31.80 and a beta of 1.08.
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XL Group PLC (NYSE:XL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.23. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.40 billion. XL Group PLC had a return on equity of 3.47% and a net margin of 3.12%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.33%. XL Group PLC’s dividend payout ratio (DPR) is presently 74.77%.
Institutional investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC raised its position in XL Group PLC by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,045 shares of the company’s stock valued at $101,000 after buying an additional 33 shares during the last quarter. Global X Management Co. LLC raised its position in XL Group PLC by 125.6% in the second quarter. Global X Management Co. LLC now owns 3,441 shares of the company’s stock valued at $115,000 after buying an additional 1,916 shares during the last quarter. Seven Eight Capital LLC bought a new position in XL Group PLC during the second quarter valued at about $133,000. Mizuho Asset Management Co. Ltd. raised its position in XL Group PLC by 178.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,392 shares of the company’s stock valued at $146,000 after buying an additional 2,812 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in XL Group PLC by 360.5% in the second quarter. Advisors Asset Management Inc. now owns 6,447 shares of the company’s stock valued at $215,000 after buying an additional 5,047 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
XL Group PLC 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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