Shares of XL Group Ltd. (NYSE:XL) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.90.
XL has been the topic of several research reports. ValuEngine raised shares of XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. BidaskClub raised shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG increased their price target on shares of XL Group from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of XL Group from a “sell” rating to a “hold” rating in a research note on Friday, July 28th.
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In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider W Myron Hendry sold 85,050 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the transaction, the insider now owns 57,525 shares of the company’s stock, valued at $2,422,953. The disclosure for this sale can be found here. Insiders have sold a total of 183,293 shares of company stock valued at $7,767,012 in the last quarter. Company insiders own 2.59% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its stake in shares of XL Group by 0.9% in the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock valued at $250,000 after buying an additional 54 shares during the period. Mackenzie Financial Corp increased its stake in shares of XL Group by 0.9% in the first quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock valued at $354,000 after buying an additional 79 shares in the last quarter. DnB Asset Management AS increased its stake in shares of XL Group by 0.3% in the first quarter. DnB Asset Management AS now owns 30,610 shares of the insurance provider’s stock valued at $1,220,000 after buying an additional 100 shares in the last quarter. Great Lakes Advisors LLC increased its stake in shares of XL Group by 1.1% in the first quarter. Great Lakes Advisors LLC now owns 22,911 shares of the insurance provider’s stock valued at $913,000 after buying an additional 241 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in shares of XL Group by 1.8% in the first quarter. Shell Asset Management Co. now owns 17,212 shares of the insurance provider’s stock valued at $686,000 after buying an additional 299 shares in the last quarter. 98.84% of the stock is owned by institutional investors.
Shares of XL Group (NYSE XL) traded down 0.02% during midday trading on Monday, hitting $44.49. 357,594 shares of the stock traded hands. XL Group has a 52 week low of $32.81 and a 52 week high of $47.27. The company’s 50-day moving average is $44.71 and its 200 day moving average is $41.86. The firm has a market capitalization of $11.48 billion, a PE ratio of 14.55 and a beta of 1.02.
XL Group (NYSE:XL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts anticipate that XL Group will post $3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is 28.57%.
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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