Barclays reissued their overweight rating on shares of XL Group (NYSE:XL) in a report issued on Tuesday, February 20th, Marketbeat reports. Barclays currently has a $50.00 price objective on the insurance provider’s stock, up from their prior price objective of $42.00.
Several other brokerages have also recently issued reports on XL. Citigroup lifted their target price on shares of XL Group from $40.00 to $41.00 and gave the stock a neutral rating in a research note on Thursday, November 2nd. Zacks Investment Research lowered shares of XL Group from a hold rating to a strong sell rating in a report on Wednesday, December 13th. Deutsche Bank upgraded shares of XL Group from a sell rating to a hold rating in a report on Thursday, February 8th. Royal Bank of Canada reiterated a buy rating and set a $46.00 price target on shares of XL Group in a research note on Friday, December 8th. Finally, ValuEngine downgraded XL Group from a hold rating to a sell rating in a report on Friday, December 1st. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. XL Group currently has an average rating of Hold and an average target price of $46.72.
XL Group (NYSE:XL) traded down $0.15 during mid-day trading on Tuesday, reaching $55.45. 9,319,274 shares of the company were exchanged, compared to its average volume of 6,675,703. XL Group has a one year low of $33.77 and a one year high of $56.39. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.28. The firm has a market cap of $14,225.24, a PE ratio of -24.75, a PEG ratio of 1.67 and a beta of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, March 14th. XL Group’s payout ratio is -39.29%.
In other XL Group news, General Counsel Gould Kirstin Romann sold 62,290 shares of XL Group stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.09, for a total transaction of $2,684,076.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Lee Cross sold 70,000 shares of XL Group stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $40.21, for a total value of $2,814,700.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,290 shares of company stock worth $7,078,776. 3.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of XL. Stifel Financial Corp boosted its position in XL Group by 2.8% during the 2nd quarter. Stifel Financial Corp now owns 14,878 shares of the insurance provider’s stock valued at $650,000 after purchasing an additional 406 shares during the period. Advisor Group Inc. boosted its position in XL Group by 28.0% during the 4th quarter. Advisor Group Inc. now owns 5,257 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 1,150 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in XL Group by 5.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 24,146 shares of the insurance provider’s stock valued at $957,000 after purchasing an additional 1,300 shares during the period. Mutual of America Capital Management LLC boosted its position in XL Group by 4.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 33,322 shares of the insurance provider’s stock worth $1,315,000 after acquiring an additional 1,345 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in XL Group by 8.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,978 shares of the insurance provider’s stock worth $828,000 after acquiring an additional 1,555 shares during the period. Institutional investors own 98.97% of the company’s stock.
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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