Pitcairn Co. Has $1.19 Million Position in XL Group Ltd. (NYSE:XL)
Pitcairn Co. increased its position in shares of XL Group Ltd. (NYSE:XL) by 54.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,059 shares of the insurance provider’s stock after buying an additional 9,529 shares during the period. Pitcairn Co.’s holdings in XL Group were worth $1,185,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of XL. Vanguard Group Inc. increased its position in XL Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 25,552,611 shares of the insurance provider’s stock worth $1,018,526,000 after buying an additional 519,170 shares in the last quarter. Wellington Management Group LLP increased its position in shares of XL Group by 1.1% in the first quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock valued at $789,353,000 after buying an additional 218,230 shares in the last quarter. BlackRock Inc. increased its position 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. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of XL Group by 2.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock valued at $559,246,000 after buying an additional 384,760 shares in the last quarter. Finally, FIL Ltd increased its position 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. Hedge funds and other institutional investors own 98.84% of the company’s stock.
Shares of XL Group Ltd. (NYSE:XL) opened at 44.41 on Friday. The company has a 50-day moving average price of $44.74 and a 200 day moving average price of $41.91. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27. The company has a market capitalization of $11.46 billion, a P/E ratio of 14.52 and a beta of 1.02.
XL Group (NYSE:XL) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company earned $0.37 earnings per share. Equities research analysts anticipate that XL Group Ltd. will post $3.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is 28.57%.
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Several brokerages have recently commented on XL. Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 target price on shares of XL Group in a research note on Wednesday, July 12th. BidaskClub upgraded XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Morgan Stanley lifted their target price on XL Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.90.
In other XL Group news, Director Anne Stevens sold 1,700 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $43.55, for a total transaction of $74,035.00. Following the completion of the transaction, the director now directly owns 13,710 shares of the company’s stock, valued at $597,070.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,293 shares of company stock valued at $7,767,012. 2.59% of the stock is owned by corporate insiders.
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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