XL Group Ltd. (XL) to Issue $0.22 Quarterly Dividend
XL Group Ltd. (NYSE:XL) announced a quarterly dividend on Friday, May 19th. Investors of record on Thursday, June 15th will be paid a dividend of 0.22 per share by the insurance provider on Friday, June 30th. This represents a $0.88 dividend on an annualized basis and a yield of 2.08%.
XL Group has raised its dividend payment by an average of 2.3% per year over the last three years and has increased its dividend every year for the last 4 years. XL Group has a dividend payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect XL Group to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 21.7%.
Shares of XL Group (NYSE:XL) traded down 1.37% during midday trading on Friday, reaching $41.68. 828,415 shares of the company were exchanged. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 20.04 and a beta of 0.98. XL Group has a 52-week low of $30.33 and a 52-week high of $43.52. The company’s 50-day moving average price is $41.13 and its 200 day moving average price is $38.93.
XL Group (NYSE:XL) last announced its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. XL Group had a net margin of 4.18% and a return on equity of 3.42%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts predict that XL Group will post $3.23 earnings per share for the current year.
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Several research analysts have commented on XL shares. Morgan Stanley upped their target price on shares of XL Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Deutsche Bank AG upped their target price on shares of XL Group from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Royal Bank of Canada upped their target price on shares of XL Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Sandler O’Neill cut shares of XL Group from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Monday, March 13th. Finally, Langen Mcalenn restated a “neutral” rating on shares of XL Group in a research report on Monday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.40.
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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