XL Group Ltd. (NYSE:XL) had its target price reduced by investment analysts at Bank of America Corporation from $49.00 to $47.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the insurance provider’s stock. Bank of America Corporation’s target price indicates a potential upside of 19.44% from the company’s previous close.

A number of other brokerages have also issued reports on XL. UBS AG decreased their price objective on XL Group from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $50.00 price objective on shares of XL Group in a report on Thursday, September 21st. BidaskClub lowered XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Buckingham Research initiated coverage on XL Group in a report on Monday, September 11th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Barclays PLC reissued an “overweight” rating and issued a $51.00 price objective (up from $46.00) on shares of XL Group in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.83.

Shares of XL Group (XL) traded up 2.16% on Thursday, hitting $40.20. The company’s stock had a trading volume of 1,100,632 shares. The firm has a market cap of $10.37 billion, a PE ratio of 13.15 and a beta of 1.00. The company has a 50 day moving average of $39.82 and a 200 day moving average of $42.17. XL Group has a 1-year low of $33.22 and a 1-year high of $47.27.

XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company posted $0.37 EPS. Equities analysts forecast that XL Group will post $1.18 EPS for the current year.

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In other news, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the completion of the sale, the director now owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.02% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in XL. Janus Henderson Group PLC lifted its holdings in shares of XL Group by 9,672.6% in the second quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock valued at $153,025,000 after purchasing an additional 3,457,972 shares in the last quarter. Numeric Investors LLC increased its stake in shares of XL Group by 108.0% in the second quarter. Numeric Investors LLC now owns 1,448,295 shares of the insurance provider’s stock worth $63,435,000 after acquiring an additional 752,100 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of XL Group by 122.9% in the second quarter. Ameriprise Financial Inc. now owns 1,042,682 shares of the insurance provider’s stock worth $45,668,000 after acquiring an additional 574,914 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in shares of XL Group by 4,962.0% in the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock worth $25,416,000 after acquiring an additional 568,798 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of XL Group by 25.8% in the second quarter. Russell Investments Group Ltd. now owns 2,383,700 shares of the insurance provider’s stock worth $104,422,000 after acquiring an additional 488,797 shares during the last quarter. Institutional investors own 95.26% 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).

Analyst Recommendations for XL Group (NYSE:XL)

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