Zacks: Brokerages Anticipate XL Group Ltd. (XL) Will Post Earnings of $0.75 Per Share
Analysts predict that XL Group Ltd. (NYSE:XL) will post earnings of $0.75 per share for the current quarter, according to Zacks. Zero analysts have made estimates for XL Group’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.59. XL Group reported earnings per share of $0.44 during the same quarter last year, which suggests a positive year over year growth rate of 70.5%. The company is expected to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that XL Group will report full-year earnings of $3.25 per share for the current year, with EPS estimates ranging from $3.00 to $3.50. For the next financial year, analysts expect that the company will post earnings of $3.97 per share, with EPS estimates ranging from $3.80 to $4.21. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover XL Group.
XL Group (NYSE:XL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share.
XL has been the topic of a number of research analyst reports. BidaskClub upgraded XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and set a $50.00 price objective (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Barclays PLC reissued an “overweight” rating and set a $51.00 price objective (up from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Citigroup Inc. boosted 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. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price objective on shares of XL Group in a research note on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.50.
In related news, insider Charles F.A. Cooper sold 18,500 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $42.33, for a total value of $783,105.00. Following the transaction, the insider now directly owns 110,096 shares of the company’s stock, valued at approximately $4,660,363.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the transaction, the director now directly owns 55,008 shares in the company, valued at $2,450,606.40. The disclosure for this sale can be found here. 3.02% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after buying an additional 384 shares in the last quarter. Manchester Capital Management LLC bought a new stake in shares of XL Group during the second quarter valued at $120,000. Advisor Group Inc. increased its stake in shares of XL Group by 22.1% in the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after buying an additional 747 shares in the last quarter. Group One Trading L.P. bought a new stake in shares of XL Group during the second quarter valued at $192,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of XL Group during the second quarter valued at $202,000. 95.24% of the stock is currently owned by hedge funds and other institutional investors.
XL Group (NYSE:XL) opened at 41.30 on Thursday. The firm has a 50-day moving average price of $44.67 and a 200-day moving average price of $42.33. XL Group has a 52-week low of $32.81 and a 52-week high of $47.27. The company has a market cap of $10.65 billion, a PE ratio of 13.51 and a beta of 1.02. XL Group also saw unusually large options trading on Monday. Traders bought 6,238 put options on the company. This represents an increase of 1,034% compared to the average volume of 550 put options.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.13%. XL Group’s dividend payout ratio is currently 28.57%.
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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