Insider Selling: XL Group Ltd. (NYSE:XL) Director Sells 3,043 Shares of Stock
XL Group Ltd. (NYSE:XL) Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the transaction, the director now owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
XL Group Ltd. (XL) opened at 44.27 on Friday. The company has a 50-day moving average price of $44.54 and a 200 day moving average price of $41.60. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27. The stock has a market cap of $11.44 billion, a P/E ratio of 14.48 and a beta of 1.02.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the company posted $0.37 earnings per share. Equities analysts expect that XL Group Ltd. will post $3.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio is currently 28.57%.
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A number of large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of XL Group by 3,113.6% in the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after buying an additional 18,311,662 shares in the last quarter. FIL Ltd boosted its stake in shares of XL Group by 89.9% in the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after buying an additional 3,214,457 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of XL Group by 5,927.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 939,043 shares of the insurance provider’s stock valued at $37,430,000 after buying an additional 923,464 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of XL Group by 100.7% in the first quarter. OppenheimerFunds Inc. now owns 1,795,831 shares of the insurance provider’s stock valued at $71,582,000 after buying an additional 901,177 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of XL Group by 4,962.0% in the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock valued at $25,416,000 after buying an additional 568,798 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.
A number of equities analysts have recently weighed in on XL shares. Deutsche Bank AG boosted their target price on XL Group from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Barclays PLC restated an “overweight” rating and issued a $51.00 target price (up previously from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Royal Bank Of Canada boosted their target price on XL Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. XL Group currently has an average rating of “Buy” and a consensus price target of $44.90.
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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