XL Group Ltd. (NYSE:XL) – Equities researchers at B. Riley upped their FY2018 earnings per share (EPS) estimates for XL Group in a research note issued to investors on Tuesday. B. Riley analyst R. Binner now anticipates that the insurance provider will post earnings of $3.65 per share for the year, up from their previous forecast of $3.55. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for XL Group’s FY2019 earnings at $3.65 EPS.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of XL Group from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup upped their price target on shares of XL Group from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Deutsche Bank upgraded shares of XL Group from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Barclays reiterated a “buy” rating and set a $42.00 price target on shares of XL Group in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $46.00 price target on shares of XL Group in a research report on Friday, December 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.67.
XL Group (NYSE:XL) last announced its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.73 billion. XL Group had a negative net margin of 4.95% and a negative return on equity of 4.25%. During the same quarter in the previous year, the firm posted $0.47 EPS.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of XL Group by 2.4% in the 4th quarter. Bank of Montreal Can now owns 435,715 shares of the insurance provider’s stock valued at $15,320,000 after buying an additional 10,378 shares during the last quarter. AXA acquired a new stake in shares of XL Group in the 3rd quarter valued at approximately $5,863,000. Meeder Asset Management Inc. boosted its holdings in shares of XL Group by 36.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 14,181 shares of the insurance provider’s stock valued at $559,000 after buying an additional 3,759 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of XL Group by 45.1% in the 3rd quarter. Janus Henderson Group PLC now owns 5,071,040 shares of the insurance provider’s stock valued at $200,052,000 after buying an additional 1,577,318 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its holdings in shares of XL Group by 6.6% in the 3rd quarter. AMP Capital Investors Ltd now owns 234,187 shares of the insurance provider’s stock valued at $9,240,000 after buying an additional 14,452 shares during the last quarter. 98.97% of the stock is owned by institutional investors.
In related news, CFO Stephen Robb sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Kcb Vereker sold 2,697 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was 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 $2,431,588.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,697 shares of company stock valued at $4,493,383. 3.02% of the stock is currently owned by company insiders.
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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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