XL Group (NYSE:XL) was downgraded by equities researchers at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut XL Group from an “outperform” rating to a “market perform” rating in a research note on Thursday. Barclays reissued an “overweight” rating and set a $50.00 target price (up from $42.00) on shares of XL Group in a research note on Tuesday, February 20th. Zacks Investment Research raised XL Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Citigroup boosted their target price on XL Group from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Deutsche Bank raised XL Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.72.
XL Group (NYSE XL) traded down $0.11 on Monday, hitting $55.56. The stock had a trading volume of 12,040,000 shares, compared to its average volume of 8,750,000. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.28. XL Group has a 52-week low of $33.77 and a 52-week high of $56.39. The stock has a market capitalization of $14,350.00, a PE ratio of -25.72, a PEG ratio of 1.67 and a beta of 0.75.
In other news, CFO Stephen Robb sold 20,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Gould Kirstin Romann sold 62,290 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.09, for a total value of $2,684,076.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,290 shares of company stock worth $7,078,776. 3.02% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of XL Group in the fourth quarter worth $110,000. Earnest Partners LLC purchased a new stake in shares of XL Group in the fourth quarter worth $150,000. NuWave Investment Management LLC purchased a new stake in shares of XL Group in the fourth quarter worth $163,000. Advisor Group Inc. grew its stake in shares of XL Group by 28.0% in the fourth quarter. Advisor Group Inc. now owns 5,257 shares of the insurance provider’s stock worth $185,000 after acquiring an additional 1,150 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in shares of XL Group in the fourth quarter worth $211,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “JMP Securities Downgrades XL Group (XL) to Market Perform” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/12/jmp-securities-downgrades-xl-group-xl-to-market-perform.html.
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).
Receive News & Ratings for XL Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XL Group and related companies with MarketBeat.com's FREE daily email newsletter.