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

XL has been the subject of a number of recent analyst reports. BidaskClub cut shares of XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Barclays PLC reaffirmed an “overweight” rating and set a $51.00 target price (up from $46.00) on shares of XL Group in a report on Monday, July 3rd. Zacks Investment Research lowered shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target (up previously from $46.00) on shares of XL Group in a report on Friday, July 7th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price target on shares of XL Group in a report on Wednesday, July 12th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. XL Group has an average rating of “Hold” and a consensus target price of $46.50.

The firm’s 50 day moving average price is $43.72 and its 200 day moving average price is $42.38. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 12.57 and a beta of 1.01.

XL Group (NYSE:XL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period in the prior year, the business earned $0.37 earnings per share. Analysts predict that XL Group Ltd. will post $3.27 earnings per share 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 issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. XL Group’s payout ratio is 28.57%.

In other news, Director Joseph Mauriello sold 3,043 shares of the firm’s 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 sale, the director now owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles F.A. Cooper sold 18,500 shares of the firm’s 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 sale, the insider now 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. Corporate insiders own 3.02% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XL. Vanguard Group Inc. boosted its holdings in XL Group by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock valued at $1,131,856,000 after purchasing an additional 288,860 shares during the period. Wellington Management Group LLP lifted its holdings in shares of XL Group by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock worth $789,353,000 after acquiring an additional 218,230 shares during the last quarter. BlackRock Inc. lifted its holdings 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 acquiring an additional 18,311,662 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of XL Group by 2.8% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock worth $559,246,000 after acquiring an additional 384,760 shares during the last quarter. Finally, FIL Ltd lifted its holdings 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 acquiring an additional 3,214,457 shares during the last quarter. 95.27% of the stock is owned by 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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