XL Group Ltd. (XL) Given Average Rating of “Buy” by Analysts
XL Group Ltd. (NYSE:XL) has earned an average rating of “Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $44.90.
Several analysts have commented on the stock. BidaskClub lowered shares of XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of XL Group from a “sell” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co upgraded shares of XL Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $52.00 in a report on Friday, July 28th. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. raised their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th.
In other XL Group news, General Counsel Gould Kirstin Romann sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $42.56, for a total transaction of $3,192,000.00. Following the completion of the transaction, the general counsel now owns 162,298 shares of the company’s stock, valued at $6,907,402.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider W Myron Hendry sold 85,050 shares of the firm’s 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 of the company’s stock, valued at approximately $2,422,953. The disclosure for this sale can be found here. Insiders have sold 183,293 shares of company stock valued at $7,767,012 in the last ninety days. Insiders own 2.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Korea Investment CORP increased its position in shares of XL Group by 24,993.8% in the first quarter. Korea Investment CORP now owns 81,555 shares of the insurance provider’s stock worth $3,251,000 after buying an additional 81,230 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in shares of XL Group during the first quarter worth $450,000. Nationwide Fund Advisors increased its position in shares of XL Group by 26.6% in the first quarter. Nationwide Fund Advisors now owns 578,099 shares of the insurance provider’s stock worth $23,043,000 after buying an additional 121,481 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of XL Group by 19.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,291 shares of the insurance provider’s stock valued at $928,000 after buying an additional 3,773 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of XL Group during the first quarter valued at $621,000. 98.88% of the stock is owned by institutional investors and hedge funds.
XL Group (NYSE XL) traded down 0.39% on Friday, hitting $43.79. The stock had a trading volume of 1,644,772 shares. The company has a market cap of $11.30 billion, a P/E ratio of 14.32 and a beta of 1.02. The stock’s 50-day moving average is $44.82 and its 200-day moving average is $42.10. XL Group has a 52-week low of $32.81 and a 52-week high of $47.27.
XL Group (NYSE:XL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period in the prior year, the business posted $0.37 earnings per share. Analysts expect that XL Group will post $3.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s dividend payout ratio is 28.57%.
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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