XL Group Ltd. (XL) Given Consensus Recommendation of “Hold” by Brokerages
XL Group Ltd. (NYSE:XL) has earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $40.00.
Several brokerages recently issued reports on XL. Barclays PLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of XL Group in a research note on Monday. Citigroup Inc. assumed coverage on shares of XL Group in a research note on Tuesday, November 22nd. They set a “neutral” rating and a $39.00 price objective for the company.
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Shares of XL Group (NYSE:XL) traded up 0.95% during trading on Friday, reaching $37.27. 746,098 shares of the company traded hands. XL Group has a 52 week low of $30.33 and a 52 week high of $38.64. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 29.39 and a beta of 0.96. The firm’s 50 day moving average price is $37.00 and its 200-day moving average price is $34.80.
XL Group (NYSE:XL) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. XL Group had a net margin of 3.55% and a return on equity of 3.86%. The company earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the company earned $0.23 EPS. XL Group’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that XL Group will post $1.62 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which was paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 13th. XL Group’s dividend payout ratio is currently 65.04%.
In other XL Group news, CEO Michael S. Mcgavick sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $38.12, for a total transaction of $7,624,000.00. Following the sale, the chief executive officer now directly owns 331,423 shares in the company, valued at approximately $12,633,844.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael S. Mcgavick sold 294,072 shares of the stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $38.08, for a total transaction of $11,198,261.76. Following the sale, the chief executive officer now owns 331,423 shares in the company, valued at $12,620,587.84. The disclosure for this sale can be found here. 2.59% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its stake in XL Group by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,045 shares of the company’s stock worth $101,000 after buying an additional 33 shares during the period. Seven Eight Capital LLC acquired a new stake in XL Group during the second quarter worth about $133,000. Mizuho Asset Management Co. Ltd. raised its stake in XL Group by 178.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,392 shares of the company’s stock worth $146,000 after buying an additional 2,812 shares during the period. SRB Corp raised its stake in XL Group by 15.4% in the third quarter. SRB Corp now owns 4,689 shares of the company’s stock worth $158,000 after buying an additional 627 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in XL Group by 1,358.0% in the third quarter. Canada Pension Plan Investment Board now owns 4,724 shares of the company’s stock worth $159,000 after buying an additional 4,400 shares during the period. Institutional investors own 88.17% 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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