XL Group Ltd. (NYSE:XL) shares fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $37.85 and last traded at $38.27. 5,923,942 shares traded hands during trading, an increase of 285% from the average session volume of 1,540,480 shares. The stock had previously closed at $40.62.

Several brokerages have issued reports on XL. BidaskClub lowered XL Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating and set a $53.00 target price on shares of XL Group in a research report on Tuesday, August 29th. Zacks Investment Research upgraded XL Group from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, JPMorgan Chase & Co. upgraded XL Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $52.00 in a research report on Friday, July 28th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.50.

The company has a market capitalization of $9.87 billion, a PE ratio of 12.51 and a beta of 1.01. The firm’s 50 day moving average is $44.13 and its 200-day moving average is $42.43.

XL Group (NYSE:XL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same quarter last year, the company posted $0.37 EPS. On average, analysts expect that XL Group Ltd. will post $3.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. XL Group’s payout ratio is currently 28.57%.

In related news, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction of $135,565.65. Following the completion of the transaction, the director now owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles F.A. Cooper sold 18,500 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $42.33, for a total transaction of $783,105.00. Following the transaction, the insider now directly owns 110,096 shares of the company’s stock, valued at approximately $4,660,363.68. The disclosure for this sale can be found here. Company insiders own 3.02% of the company’s stock.

Several large investors have recently bought and sold shares of XL. BlackRock Inc. boosted its position in shares of XL Group by 3,113.6% during the 1st quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after purchasing an additional 18,311,662 shares during the period. Janus Henderson Group PLC boosted its position in shares of XL Group by 9,672.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after purchasing an additional 3,457,972 shares during the period. FIL Ltd boosted its position in shares of XL Group by 89.9% during the 1st quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock worth $270,609,000 after purchasing an additional 3,214,457 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of XL Group by 5,927.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 939,043 shares of the insurance provider’s stock worth $37,430,000 after purchasing an additional 923,464 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in shares of XL Group by 100.7% during the 1st quarter. OppenheimerFunds Inc. now owns 1,795,831 shares of the insurance provider’s stock worth $71,582,000 after purchasing an additional 901,177 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

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XL Group Company Profile

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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