XL Group Ltd. (XL) Releases Earnings Results, Misses Expectations By $0.09 EPS
XL Group Ltd. (NYSE:XL) announced its earnings results on Tuesday. The insurance provider reported ($4.00) EPS for the quarter, missing the consensus estimate of ($3.91) by ($0.09), RTT News reports. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.11 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share.
Shares of XL Group (NYSE:XL) opened at 42.32 on Wednesday. The stock has a 50 day moving average of $39.86 and a 200-day moving average of $42.31. XL Group has a 12-month low of $33.22 and a 12-month high of $47.27. The firm has a market capitalization of $10.92 billion, a P/E ratio of 13.84 and a beta of 1.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
In other news, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.02% of the stock is owned by corporate insiders.
Several analysts have commented on the stock. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Citigroup Inc. raised their target price 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. Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. XL Group has a consensus rating of “Hold” and an average target price of $45.33.
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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