XL Group Ltd. Expected to Earn Q3 2017 Earnings of ($2.48) Per Share (XL)
XL Group Ltd. (NYSE:XL) – Equities researchers at FBR & Co issued their Q3 2017 earnings per share (EPS) estimates for XL Group in a report released on Tuesday. FBR & Co analyst R. Binner anticipates that the insurance provider will earn ($2.48) per share for the quarter. FBR & Co also issued estimates for XL Group’s FY2017 earnings at ($0.30) EPS.
XL has been the subject of several other reports. BidaskClub cut shares of XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Citigroup Inc. decreased their price objective on shares of XL Group from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. ValuEngine cut shares of XL Group from a “hold” rating to a “sell” rating in a research note on Wednesday. J P Morgan Chase & Co upgraded shares of XL Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $52.00 in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $53.00 price objective on shares of XL Group in a research note on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. XL Group currently has a consensus rating of “Hold” and a consensus target price of $45.73.
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Shares of XL Group (XL) opened at 39.35 on Thursday. The firm’s 50-day moving average is $39.82 and its 200-day moving average is $42.17. The stock has a market capitalization of $10.15 billion, a PE ratio of 12.87 and a beta of 1.00. XL Group has a one year low of $33.22 and a one year high of $47.27.
XL Group (NYSE:XL) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the company earned $0.37 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of XL. IFP Advisors Inc increased its holdings in XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 384 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in XL Group in the 2nd quarter worth $120,000. Advisor Group Inc. increased its holdings in XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 747 shares in the last quarter. Group One Trading L.P. purchased a new stake in shares of XL Group during the second quarter worth $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of XL Group during the second quarter worth $202,000. 95.26% of the stock is owned by institutional investors.
In related news, Director Joseph Mauriello sold 3,043 shares of the business’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 sale, the director now owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.02% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, September 14th. XL Group’s payout ratio is presently 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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