XL Group Ltd. (NYSE:XL) Shares Sold by Shell Asset Management Co.
Shell Asset Management Co. reduced its stake in shares of XL Group Ltd. (NYSE:XL) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 16,258 shares of the insurance provider’s stock after selling 954 shares during the period. Shell Asset Management Co.’s holdings in XL Group were worth $712,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in XL. Advisor Partners LLC purchased a new stake in shares of XL Group during the first quarter worth approximately $218,000. Gotham Asset Management LLC purchased a new stake in shares of XL Group during the first quarter worth approximately $228,000. Columbia Partners L L C Investment Management purchased a new stake in shares of XL Group during the first quarter worth approximately $229,000. Creative Planning raised its stake 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 purchased a new stake in shares of XL Group during the first quarter worth approximately $244,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.
XL Group Ltd. (NYSE:XL) opened at 44.41 on Friday. 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 Ltd. has a 12 month low of $32.81 and a 12 month high of $47.27. The stock’s 50 day moving average price is $44.74 and its 200-day moving average price is $41.91.
XL Group (NYSE:XL) last issued its earnings results 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. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the prior year, the business posted $0.37 EPS. On average, equities research analysts predict that XL Group Ltd. will post $3.26 EPS 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 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 is presently 28.57%.
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XL has been the topic of a number of recent research reports. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Barclays PLC reissued an “overweight” rating and set a $51.00 price target (up from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price target on shares of XL Group in a research note on Wednesday, July 12th. Finally, Citigroup Inc. lifted their price target on XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. XL Group has an average rating of “Buy” and an average target price of $44.90.
In related news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 57,525 shares in the company, valued at approximately $2,422,953. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne Stevens sold 1,700 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $43.55, for a total value of $74,035.00. Following the completion of the sale, the director now owns 13,710 shares of the company’s stock, valued at approximately $597,070.50. The disclosure for this sale can be found here. Insiders have sold a total of 183,293 shares of company stock valued at $7,767,012 over the last 90 days. 2.59% of the stock is currently owned by company 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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