Fmr LLC lowered its stake in XL Group Ltd (NYSE:XL) by 95.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,093 shares of the insurance provider’s stock after selling 1,378,846 shares during the period. Fmr LLC’s holdings in XL Group were worth $3,754,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new position in shares of XL Group during the second quarter worth $167,000. Cerebellum GP LLC purchased a new position in shares of XL Group during the second quarter worth $185,000. Mount Yale Investment Advisors LLC purchased a new position in shares of XL Group during the first quarter worth $243,000. Cambria Investment Management L.P. purchased a new position in shares of XL Group during the second quarter worth $256,000. Finally, Mcdonald Capital Investors Inc. CA purchased a new position in shares of XL Group during the second quarter worth $302,000. 78.52% of the stock is owned by institutional investors and hedge funds.
Shares of XL Group stock opened at $57.59 on Friday. 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 Ltd has a 1 year low of $33.77 and a 1 year high of $57.60. The firm has a market cap of $14.90 billion, a P/E ratio of -28.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40.
XL Group (NYSE:XL) last released its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). XL Group had a negative net margin of 4.67% and a negative return on equity of 4.21%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. As a group, equities analysts anticipate that XL Group Ltd will post 3.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. XL Group’s payout ratio is -43.78%.
Separately, Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $46.80.
XL Group Company 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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