XL Group Ltd. (NYSE:XL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Negative pricing across business lines as well as increasing expenses remain headwinds for XL Group. Nonetheless, XL holds a premier position in global specialty insurance and reinsurance markets owing to the acquisition of Catlin Group in 2015. The buyout helped it to increase alternative capital opportunities and business in the Lloyd's platform. Its inorganic story remains impressive with strategic acquisitions. Also, XL Group announced its intention to re-domesticate to Bermuda as it has considerable operations there. It also remains focused on tapping opportunities in the emerging economies alongside engaging in shareholder-friendly moves. Shares of XL Group outperformed the Zacks categorized Property and Casualty industry, year to date. It is set to release second quarter results on Jul 26. A Zacks Rank #4 combined with an Earnings ESP of -3.33% makes prediction difficult.”

Several other brokerages also recently issued reports on XL. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Credit Suisse Group set a $40.00 price objective on XL Group and gave the stock a “hold” rating in a research note on Saturday, March 25th. Citigroup Inc. increased 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. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price objective (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Finally, Barclays PLC reissued an “overweight” rating and issued a $51.00 price objective (up from $46.00) on shares of XL Group in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. XL Group presently has a consensus rating of “Buy” and a consensus price target of $43.50.

XL Group (NYSE XL) traded up 0.38% on Tuesday, hitting $45.45. The stock had a trading volume of 122,520 shares. XL Group has a one year low of $31.97 and a one year high of $45.48. The stock has a 50-day moving average of $42.95 and a 200-day moving average of $40.32. The company has a market cap of $11.88 billion, a PE ratio of 21.85 and a beta of 1.02.

XL Group (NYSE:XL) last announced its earnings results on Wednesday, April 26th. The insurance provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. XL Group had a return on equity of 3.71% and a net margin of 5.25%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted $0.35 earnings per share. XL Group’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that XL Group will post $3.21 earnings per share for the current fiscal year.

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In other XL Group news, insider W Myron Hendry sold 85,050 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 57,525 shares of the company’s stock, valued at approximately $2,422,953. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anne Stevens sold 1,700 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was 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 directly owns 13,710 shares in the company, valued at $597,070.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,250 shares of company stock worth $7,631,446. Insiders own 2.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of XL. Crow Point Partners raised its position in shares of XL Group by 27.0% in the third quarter. Crow Point Partners now owns 545 shares of the insurance provider’s stock worth $20,000 after buying an additional 116 shares in the last quarter. Janus Capital Management raised its position in shares of XL Group by 67.7% in the third quarter. Janus Capital Management now owns 593,063 shares of the insurance provider’s stock worth $21,540,000 after buying an additional 239,501 shares in the last quarter. ICON Advisers bought a new position in shares of XL Group during the third quarter worth approximately $9,087,000. Capstone Asset Management Company raised its position in shares of XL Group by 11.6% in the fourth quarter. Capstone Asset Management Company now owns 49,792 shares of the insurance provider’s stock worth $1,951,000 after buying an additional 5,168 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Company raised its position in shares of XL Group by 25.1% in the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 649,739 shares of the insurance provider’s stock worth $25,457,000 after buying an additional 130,422 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

About XL Group

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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