TD Asset Management Inc. lowered its position in XL Group Ltd. (NYSE:XL) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,192 shares of the insurance provider’s stock after selling 9,856 shares during the period. TD Asset Management Inc.’s holdings in XL Group were worth $4,038,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after buying an additional 384 shares during the last quarter. Korea Investment CORP raised its position in XL Group by 58.2% in the second quarter. Korea Investment CORP now owns 129,002 shares of the insurance provider’s stock worth $5,650,000 after buying an additional 47,447 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in XL Group by 2.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 23,777 shares of the insurance provider’s stock worth $1,041,000 after buying an additional 486 shares during the last quarter. Daiwa Securities Group Inc. raised its position in XL Group by 59.4% in the second quarter. Daiwa Securities Group Inc. now owns 28,050 shares of the insurance provider’s stock worth $1,229,000 after buying an additional 10,450 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in XL Group by 4,962.0% in the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock worth $25,416,000 after buying an additional 568,798 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.
XL Group Ltd. (NYSE:XL) opened at 43.79 on Friday. XL Group Ltd. has a 52 week low of $32.81 and a 52 week high of $47.27. The stock has a market cap of $11.30 billion, a PE ratio of 14.32 and a beta of 1.02. The company has a 50-day moving average price of $44.81 and a 200-day moving average price of $42.15.
XL Group (NYSE:XL) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts anticipate that XL Group Ltd. will post $3.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. XL Group’s dividend payout ratio is presently 28.57%.
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A number of research analysts recently issued reports on the company. BidaskClub lowered XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised XL Group from a “sell” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $52.00 in a report on Friday, July 28th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. lifted their target price on XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. XL Group has a consensus rating of “Buy” and an average target price of $44.90.
In other XL Group news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 57,525 shares in the company, valued at $2,422,953. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the sale, the director now owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The disclosure for this sale can be found here. Insiders sold 183,293 shares of company stock valued at $7,767,012 in the last quarter. 2.59% of the stock is currently owned by corporate insiders.
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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