A number of other research analysts have also weighed in on XL. Buckingham Research began coverage on XL Group in a research report on Monday, September 11th. They set a neutral rating and a $42.00 price objective for the company. BidaskClub lowered XL Group from a buy rating to a hold rating in a research report on Wednesday, August 23rd. ValuEngine lowered XL Group from a buy rating to a hold rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded XL Group from a sell rating to a hold rating in a research report on Friday, July 28th. Finally, J P Morgan Chase & Co upgraded XL Group from a neutral rating to an overweight rating and raised their price objective for the company from $45.00 to $52.00 in a research report on Friday, July 28th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $46.00.
Shares of XL Group (XL) opened at 39.01 on Tuesday. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 12.76 and a beta of 1.01. The company’s 50-day moving average price is $42.15 and its 200 day moving average price is $42.28. XL Group has a 1-year low of $32.81 and a 1-year high of $47.27.
XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.37 earnings per share. On average, analysts predict that XL Group will post $3.28 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio is presently 28.57%.
In other news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.02% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in XL Group by 1.1% during the second quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock valued at $1,131,856,000 after buying an additional 288,860 shares during the period. Wellington Management Group LLP increased its holdings in XL Group by 1.1% during the first quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock valued at $789,353,000 after buying an additional 218,230 shares during the period. BlackRock Inc. increased its holdings in XL Group by 3,113.6% during the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after buying an additional 18,311,662 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in XL Group by 2.8% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock valued at $559,246,000 after buying an additional 384,760 shares during the period. Finally, FIL Ltd increased its holdings in XL Group by 89.9% during the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after buying an additional 3,214,457 shares during the period. 95.26% of the stock is currently owned by institutional investors.
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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