Teacher Retirement System of Texas Decreases Position in XL Group Ltd. (NYSE:XL)
Teacher Retirement System of Texas reduced its stake in shares of XL Group Ltd. (NYSE:XL) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 757,750 shares of the insurance provider’s stock after selling 26,746 shares during the period. Teacher Retirement System of Texas’ holdings in XL Group were worth $33,189,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in XL. Macquarie Group Ltd. boosted its stake in XL Group by 8.5% in the fourth quarter. Macquarie Group Ltd. now owns 130,100 shares of the insurance provider’s stock valued at $4,848,000 after buying an additional 10,200 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in XL Group by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 232,142 shares of the insurance provider’s stock valued at $9,253,000 after buying an additional 4,006 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in XL Group by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 83,221 shares of the insurance provider’s stock valued at $3,317,000 after buying an additional 400 shares in the last quarter. Highland Capital Management LLC boosted its stake in XL Group by 6.6% in the first quarter. Highland Capital Management LLC now owns 43,329 shares of the insurance provider’s stock valued at $1,727,000 after buying an additional 2,690 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in XL Group by 0.6% in the first quarter. Bank of Montreal Can now owns 282,516 shares of the insurance provider’s stock valued at $11,261,000 after buying an additional 1,653 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.
Shares of XL Group Ltd. (NYSE XL) opened at 44.50 on Friday. The firm has a market cap of $11.48 billion, a PE ratio of 14.55 and a beta of 1.02. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27. The firm’s 50-day moving average price is $44.71 and its 200 day moving average price is $41.86.
XL Group (NYSE:XL) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the company posted $0.37 EPS. On average, equities research analysts forecast that XL Group Ltd. will post $3.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio is presently 28.57%.
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Several equities research analysts recently commented on the company. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Citigroup Inc. increased their price target on XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 price target on shares of XL Group in a report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.90.
In other XL Group news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total transaction of $3,582,306.00. Following the transaction, the insider now owns 57,525 shares of the company’s stock, valued at approximately $2,422,953. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Gould Kirstin Romann sold 75,000 shares of the stock in a transaction on 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 transaction, the general counsel now directly owns 162,298 shares in the company, valued at approximately $6,907,402.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,293 shares of company stock worth $7,767,012. Corporate 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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