Clearbridge Investments LLC bought a new stake in XL Group Ltd. (NYSE:XL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,404,993 shares of the insurance provider’s stock, valued at approximately $49,400,000. Clearbridge Investments LLC owned about 0.55% of XL Group as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in XL Group during the fourth quarter worth about $110,000. NuWave Investment Management LLC bought a new position in XL Group during the fourth quarter worth about $163,000. Advisor Group Inc. grew its holdings in XL Group by 28.0% during the fourth quarter. Advisor Group Inc. now owns 5,257 shares of the insurance provider’s stock worth $185,000 after purchasing an additional 1,150 shares during the period. King Luther Capital Management Corp bought a new position in XL Group during the fourth quarter worth about $211,000. Finally, Synovus Financial Corp bought a new position in XL Group during the third quarter worth about $217,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of XL Group Ltd. (NYSE XL) opened at $55.60 on Wednesday. XL Group Ltd. has a 1-year low of $33.77 and a 1-year high of $56.39. The stock has a market capitalization of $14,320.00, a P/E ratio of -25.74, a PEG ratio of 1.67 and a beta of 0.75. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.28.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.58%. XL Group’s payout ratio is -40.74%.
In other news, General Counsel Gould Kirstin Romann sold 62,290 shares of XL Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.09, for a total value of $2,684,076.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Lee Cross sold 70,000 shares of XL Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $40.21, for a total transaction of $2,814,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,290 shares of company stock valued at $7,078,776. 3.02% of the stock is owned by company insiders.
A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods cut XL Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 8th. Citigroup boosted their price objective on XL Group from $43.00 to $57.60 and gave the stock a “neutral” rating in a report on Friday, March 9th. JMP Securities cut XL Group from an “outperform” rating to a “market perform” rating in a report on Monday. Barclays restated an “overweight” rating and set a $50.00 price objective (up previously from $42.00) on shares of XL Group in a report on Tuesday, February 20th. Finally, Sandler O’Neill restated a “hold” rating and set a $43.00 price objective on shares of XL Group in a report on Friday, March 2nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $46.72.
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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