XL Group Ltd. (XL) Upgraded to Buy at ValuEngine
XL Group Ltd. (NYSE:XL) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Several other brokerages have also issued reports on XL. Zacks Investment Research lowered XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Citigroup Inc. upped their target price on XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of XL Group in a research note on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 target price (up previously from $46.00) on shares of XL Group in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.50.
Shares of XL Group (NYSE:XL) traded down 0.64% during midday trading on Tuesday, reaching $46.36. 1,217,364 shares of the company’s stock were exchanged. The company has a market cap of $12.12 billion, a P/E ratio of 22.29 and a beta of 1.02. The firm has a 50 day moving average price of $44.00 and a 200 day moving average price of $41.11. XL Group has a 12 month low of $32.57 and a 12 month high of $47.27.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.93 billion. XL Group had a return on equity of 3.71% and a net margin of 5.25%. XL Group’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities research analysts forecast that XL Group will post $3.20 earnings per share for the current fiscal year.
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In related news, insider W Myron Hendry sold 85,050 shares of the company’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 transaction of $3,582,306.00. Following the completion of the transaction, the insider now owns 57,525 shares in the company, valued at $2,422,953. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Charles F.A. Cooper sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $42.33, for a total value of $783,105.00. Following the transaction, the insider now owns 110,096 shares of the company’s stock, valued at approximately $4,660,363.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,250 shares of company stock valued at $7,631,446. 2.59% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of XL Group by 3,113.6% in the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after buying an additional 18,311,662 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of XL Group during the second quarter worth approximately $121,742,000. FIL Ltd acquired a new position in shares of XL Group during the fourth quarter worth approximately $133,187,000. Norges Bank acquired a new position in shares of XL Group during the fourth quarter worth approximately $131,093,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of XL Group by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,094,232 shares of the insurance provider’s stock worth $1,100,732,000 after buying an additional 2,726,229 shares in the last quarter. Institutional investors own 97.41% of the company’s stock.
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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