XL Group (XL) Cut to “Sell” at ValuEngine

XL Group (NYSE:XL) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of XL Group from a “strong sell” rating to a “hold” rating in a report on Tuesday. B. Riley reaffirmed a “neutral” rating on shares of XL Group in a report on Monday, November 6th. Citigroup upped their target price on shares of XL Group from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. UBS upped their target price on shares of XL Group from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, TheStreet cut shares of XL Group from a “b” rating to a “c” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. XL Group currently has a consensus rating of “Hold” and an average price target of $45.50.

Shares of XL Group (XL) traded down $0.37 during trading hours on Friday, hitting $38.45. 1,724,501 shares of the stock were exchanged, compared to its average volume of 1,935,836. XL Group has a 1-year low of $35.77 and a 1-year high of $47.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.35.

XL Group (NYSE:XL) last announced its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company posted $0.44 earnings per share. XL Group’s quarterly revenue was up 9.0% on a year-over-year basis. sell-side analysts predict that XL Group will post -1.47 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in XL Group by 3,113.6% during the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after buying an additional 18,311,662 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in XL Group by 31.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,072,900 shares of the insurance provider’s stock worth $673,526,000 after buying an additional 4,077,346 shares during the period. FIL Ltd acquired a new position in XL Group during the fourth quarter worth about $133,187,000. Janus Henderson Group PLC grew its position in XL Group by 9,672.6% during the second quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after buying an additional 3,457,972 shares during the period. Finally, Norges Bank acquired a new position in XL Group during the fourth quarter worth about $131,093,000. Institutional investors and hedge funds own 99.06% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for XL Group (NYSE:XL)

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