Mn Services Vermogensbeheer B.V. Purchases 32,223 Shares of XL Group Ltd. (NYSE:XL)
Mn Services Vermogensbeheer B.V. boosted its stake in XL Group Ltd. (NYSE:XL) by 297.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 43,069 shares of the insurance provider’s stock after buying an additional 32,223 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in XL Group were worth $1,886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Partners LLC bought a new position in shares of XL Group during the first quarter worth approximately $218,000. Gotham Asset Management LLC bought a new position in shares of XL Group during the first quarter worth approximately $228,000. Columbia Partners L L C Investment Management bought a new position in shares of XL Group during the first quarter worth approximately $229,000. Creative Planning boosted its position in shares of XL Group by 60.7% in the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock worth $232,000 after buying an additional 2,001 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of XL Group during the first quarter worth approximately $244,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.
Shares of XL Group Ltd. (XL) opened at 46.28 on Friday. The stock’s 50 day moving average price is $44.00 and its 200-day moving average price is $41.11. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 22.25 and a beta of 1.02. XL Group Ltd. has a 52 week low of $32.57 and a 52 week high of $46.48.
XL Group (NYSE:XL) last announced its earnings results on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.93 billion. XL Group had a return on equity of 3.71% and a net margin of 5.25%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Equities analysts predict that XL Group Ltd. will post $3.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Tuesday, June 13th. XL Group’s payout ratio is currently 42.11%.
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A number of brokerages recently commented on XL. Citigroup Inc. raised their price target on XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th. BidaskClub upgraded XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and issued a $46.00 price target on shares of XL Group in a research report on Wednesday, July 12th. Morgan Stanley raised their price target on XL Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research cut XL Group from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $43.50.
In other news, insider W Myron Hendry sold 85,050 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the completion of the transaction, the insider now directly owns 57,525 shares in the company, valued at approximately $2,422,953. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Gould Kirstin Romann sold 75,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $42.56, for a total value of $3,192,000.00. Following the completion of the transaction, the general counsel now owns 162,298 shares of the company’s stock, valued at $6,907,402.88. The disclosure for this sale can be found here. Insiders sold a total of 180,250 shares of company stock valued at $7,631,446 over the last quarter. Company insiders own 2.59% 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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