XL Group PLC (XL) Position Held by Highland Capital Management LLC
Highland Capital Management LLC held its stake in shares of XL Group PLC (NYSE:XL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,039 shares of the company’s stock at the end of the third quarter. Highland Capital Management LLC’s holdings in XL Group PLC were worth $1,414,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. British Columbia Investment Management Corp raised its stake in shares of XL Group PLC by 65.0% in the third quarter. British Columbia Investment Management Corp now owns 228,713 shares of the company’s stock valued at $7,692,000 after buying an additional 90,081 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of XL Group PLC by 14.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 63,195 shares of the company’s stock worth $2,125,000 after buying an additional 7,790 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of XL Group PLC by 7.8% in the third quarter. First Mercantile Trust Co. now owns 12,400 shares of the company’s stock worth $417,000 after buying an additional 900 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of XL Group PLC by 833.3% in the second quarter. Macquarie Group Ltd. now owns 58,800 shares of the company’s stock worth $1,959,000 after buying an additional 52,500 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of XL Group PLC during the second quarter worth approximately $383,000. 88.51% of the stock is owned by hedge funds and other institutional investors.
XL Group PLC (NYSE:XL) traded down 1.35% during midday trading on Tuesday, reaching $36.49. The company’s stock had a trading volume of 1,957,557 shares. XL Group PLC has a 52-week low of $30.33 and a 52-week high of $40.48. The firm has a 50-day moving average price of $35.50 and a 200 day moving average price of $34.02. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 28.78 and a beta of 0.97.
XL Group PLC (NYSE:XL) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The firm earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.46 billion. XL Group PLC had a net margin of 3.55% and a return on equity of 3.86%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts predict that XL Group PLC will post $1.70 EPS for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. XL Group PLC’s dividend payout ratio (DPR) is currently 65.04%.
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A number of equities analysts have commented on the company. Keefe, Bruyette & Woods upgraded XL Group PLC from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $42.00 to $44.00 in a research note on Thursday, August 25th. Credit Suisse Group AG restated a “hold” rating and issued a $37.00 target price on shares of XL Group PLC in a research note on Monday, September 12th. Macquarie lifted their target price on XL Group PLC from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Citigroup Inc. assumed coverage on XL Group PLC in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $39.00 target price for the company. Finally, TheStreet upgraded XL Group PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.70.
XL Group PLC Company Profile
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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