Korea Investment CORP increased its stake in shares of XL Group Ltd. (NYSE:XL) by 58.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,002 shares of the insurance provider’s stock after buying an additional 47,447 shares during the period. Korea Investment CORP’s holdings in XL Group were worth $5,650,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Advisor Partners LLC bought a new position in XL Group during the first quarter valued at approximately $218,000. Gotham Asset Management LLC bought a new position in XL Group during the first quarter valued at approximately $228,000. Columbia Partners L L C Investment Management bought a new position in XL Group during the first quarter valued at approximately $229,000. Creative Planning boosted its position in XL Group by 60.7% in the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock valued at $232,000 after buying an additional 2,001 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in XL Group during the first quarter valued at approximately $244,000. Institutional investors and hedge funds own 98.84% of the company’s stock.
Shares of XL Group Ltd. (XL) opened at 44.41 on Friday. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27. The company has a 50 day moving average of $44.74 and a 200 day moving average of $41.91. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 14.52 and a beta of 1.02.
XL Group (NYSE:XL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period in the previous year, the firm posted $0.37 EPS. On average, equities analysts forecast that XL Group Ltd. will post $3.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
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Several equities analysts have recently commented on the stock. Citigroup Inc. boosted their price target on shares of XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. ValuEngine raised shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co raised shares of XL Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $52.00 in a research note on Friday, July 28th. BidaskClub raised shares of XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of XL Group from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.90.
In related news, Director Anne Stevens sold 1,700 shares of XL Group stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $43.55, for a total transaction of $74,035.00. Following the sale, the director now directly owns 13,710 shares of the company’s stock, valued at approximately $597,070.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles F.A. Cooper sold 18,500 shares of XL Group stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $42.33, for a total transaction of $783,105.00. Following the sale, the insider now directly owns 110,096 shares in the company, valued at $4,660,363.68. The disclosure for this sale can be found here. Insiders have sold a total of 183,293 shares of company stock worth $7,767,012 over the last ninety days. 2.59% of the stock is currently owned by insiders.
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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