XL Group Ltd. (XL) PT Raised to $41.00
XL Group Ltd. (NYSE:XL) had its price objective boosted by stock analysts at Citigroup Inc. from $40.00 to $41.00 in a research note issued to investors on Thursday. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup Inc.’s target price would indicate a potential upside of 1.31% from the company’s current price.
XL has been the topic of several other reports. Deutsche Bank AG lowered shares of XL Group from a “hold” rating to a “sell” rating and cut their price target for the stock from $42.00 to $37.00 in a research note on Friday, October 13th. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Zacks Investment Research lowered shares of XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. UBS AG cut their price target on shares of XL Group from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Finally, Bank of America Corporation cut their price target on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, October 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $45.50.
XL Group (NYSE:XL) last announced its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. XL Group’s revenue was up 9.0% compared to the same quarter last year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its holdings in XL Group by 0.9% during the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock worth $250,000 after buying an additional 54 shares in the last quarter. DnB Asset Management AS boosted its holdings in XL Group by 0.7% during the second quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock worth $1,349,000 after buying an additional 200 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in XL Group by 1.4% during the second quarter. Great Lakes Advisors LLC now owns 23,238 shares of the insurance provider’s stock worth $1,018,000 after buying an additional 327 shares in the last quarter. HighTower Advisors LLC boosted its holdings in XL Group by 4.4% during the second quarter. HighTower Advisors LLC now owns 8,708 shares of the insurance provider’s stock worth $382,000 after buying an additional 370 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in XL Group by 19.9% during the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after buying an additional 384 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.
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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