XL Group Ltd (NYSE:XL) has earned a consensus rating of “Hold” from the eighteen research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $48.16.
A number of equities research analysts have weighed in on the stock. JMP Securities cut shares of XL Group from an “outperform” rating to a “market perform” rating in a research report on Monday, March 12th. Barclays cut shares of XL Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $58.00 in a research report on Monday, April 2nd. UBS Group cut shares of XL Group from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Monday, March 19th. Keefe, Bruyette & Woods cut shares of XL Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 8th. Finally, Citigroup lifted their price objective on shares of XL Group from $43.00 to $57.60 and gave the company a “neutral” rating in a report on Friday, March 9th.
Hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in XL Group by 5.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,073,834 shares of the insurance provider’s stock worth $635,477,000 after acquiring an additional 1,000,934 shares in the last quarter. Altrinsic Global Advisors LLC grew its holdings in XL Group by 28.1% during the 4th quarter. Altrinsic Global Advisors LLC now owns 4,064,274 shares of the insurance provider’s stock worth $142,900,000 after acquiring an additional 891,929 shares in the last quarter. Geode Capital Management LLC grew its holdings in XL Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,679,768 shares of the insurance provider’s stock worth $94,025,000 after acquiring an additional 57,527 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in XL Group by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,005,848 shares of the insurance provider’s stock worth $70,528,000 after acquiring an additional 9,777 shares in the last quarter. Finally, Clearbridge LLC acquired a new position in XL Group during the 4th quarter worth approximately $60,255,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.
XL Group (NYSE:XL) last announced its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.15). XL Group had a negative net margin of 4.92% and a negative return on equity of 3.75%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. sell-side analysts expect that XL Group will post 3.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, June 14th. XL Group’s dividend payout ratio (DPR) is currently -43.78%.
About XL Group
XL Group Ltd, through its subsidiaries, operates as an insurance and reinsurance company worldwide. The company's Insurance segment offers primary and excess casualty, environmental liability, professional liability, property, excess and surplus lines, U.S. program/facilities, and construction business products.
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