Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in XL Group Ltd (NYSE:XL) by 37.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 275,000 shares of the insurance provider’s stock after purchasing an additional 75,000 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.11% of XL Group worth $15,386,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Piedmont Investment Advisors LLC bought a new position in shares of XL Group during the second quarter valued at $167,000. Cerebellum GP LLC bought a new position in shares of XL Group during the second quarter valued at $185,000. Mount Yale Investment Advisors LLC bought a new position in shares of XL Group during the first quarter valued at $243,000. Cambria Investment Management L.P. bought a new position in shares of XL Group during the second quarter valued at $256,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of XL Group during the second quarter valued at $258,000. 78.52% of the stock is owned by hedge funds and other institutional investors.
XL Group stock opened at $57.59 on Friday. The stock has a market cap of $14.90 billion, a PE ratio of -28.65, a P/E/G ratio of 1.92 and a beta of 0.40. XL Group Ltd has a 1 year low of $33.77 and a 1 year high of $57.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.39 and a quick ratio of 0.39.
XL Group (NYSE:XL) last posted its earnings results on Tuesday, July 31st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. XL Group had a negative return on equity of 4.21% and a negative net margin of 4.67%. equities analysts forecast that XL Group Ltd will post 3.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. XL Group’s dividend payout ratio is presently -43.78%.
Separately, Zacks Investment Research raised XL Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $47.18.
XL Group Profile
XL Group Ltd, through its subsidiaries, operates as an insurance and reinsurance company worldwide. The company's Insurance segment offers primary and excess casualty, environmental liability, professional liability, property, excess and surplus lines, U.S. program/facilities, and construction business products.
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