XL Group Ltd. (NYSE:XL) Releases Earnings Results, Beats Expectations By $0.08 EPS
XL Group Ltd. (NYSE:XL) posted its earnings results on Wednesday. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08, Briefing.com reports. XL Group had a net margin of 5.25% and a return on equity of 3.71%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the company posted $0.37 EPS.
Shares of XL Group (NYSE:XL) traded down 6.55% during midday trading on Thursday, hitting $42.97. 1,896,869 shares of the company traded hands. The stock has a 50 day moving average of $44.37 and a 200-day moving average of $41.37. The stock has a market capitalization of $11.23 billion, a PE ratio of 20.66 and a beta of 1.02. XL Group has a 52 week low of $32.81 and a 52 week high of $47.27.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Tuesday, June 13th. XL Group’s dividend payout ratio (DPR) is presently 42.11%.
Several analysts have weighed in on the stock. Citigroup Inc. lifted their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Morgan Stanley lifted their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $46.00 price objective on shares of XL Group in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $43.50.
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In other XL Group news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total transaction of $3,582,306.00. Following the transaction, the insider now directly owns 57,525 shares in the company, valued at $2,422,953. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles F.A. Cooper sold 18,500 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $42.33, for a total transaction of $783,105.00. Following the transaction, the insider now owns 110,096 shares in the company, valued at $4,660,363.68. The disclosure for this sale can be found here. Insiders sold 180,250 shares of company stock worth $7,631,446 over the last ninety days. 2.59% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of XL. Advisor Partners LLC purchased a new position in shares of XL Group during the first quarter valued at about $218,000. Gotham Asset Management LLC purchased a new position in shares of XL Group during the first quarter valued at about $228,000. Columbia Partners L L C Investment Management purchased a new position in shares of XL Group during the first quarter valued at about $229,000. Creative Planning boosted 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 valued at $232,000 after buying an additional 2,001 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of XL Group during the first quarter valued at about $244,000. Institutional investors and hedge funds own 97.41% of the company’s stock.
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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