XL Group (NYSE:XL) was upgraded by stock analysts at Deutsche Bank from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research firms have also recently weighed in on XL. Barclays restated a “buy” rating and issued a $42.00 price objective on shares of XL Group in a research report on Tuesday, January 9th. Zacks Investment Research lowered shares of XL Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Friday, December 8th. ValuEngine lowered shares of XL Group from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, B. Riley reissued a “neutral” rating on shares of XL Group in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $44.67.
XL Group (NYSE XL) traded up $0.59 during midday trading on Thursday, reaching $41.86. The company’s stock had a trading volume of 5,170,000 shares, compared to its average volume of 4,752,371. XL Group has a 12 month low of $33.77 and a 12 month high of $47.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.08.
In other news, Director John Kcb Vereker sold 2,697 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $36.59, for a total value of $98,683.23. Following the sale, the director now directly owns 66,455 shares of the company’s stock, valued at approximately $2,431,588.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Lee Cross sold 20,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $39.00, for a total transaction of $780,000.00. Following the completion of the sale, the insider now directly owns 58,688 shares in the company, valued at $2,288,832. The disclosure for this sale can be found here. Insiders have sold a total of 112,697 shares of company stock worth $4,493,383 over the last three months. Insiders own 3.02% of the company’s stock.
Hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in shares of XL Group during the 4th quarter worth approximately $110,000. NuWave Investment Management LLC acquired a new position in shares of XL Group during the 4th quarter worth approximately $163,000. Advisor Group Inc. grew its position in shares of XL Group by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 747 shares in the last quarter. Synovus Financial Corp acquired a new position in shares of XL Group during the 3rd quarter worth approximately $217,000. Finally, Stephens Inc. AR acquired a new position in shares of XL Group during the 4th quarter worth approximately $223,000. 98.65% of the stock is currently owned by institutional investors.
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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