Alliancebernstein L.P. Has $20.75 Million Holdings in XL Group Ltd. (XL)
Alliancebernstein L.P. lessened its stake in shares of XL Group Ltd. (NYSE:XL) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 473,772 shares of the insurance provider’s stock after selling 1,403 shares during the period. Alliancebernstein L.P. owned 0.18% of XL Group worth $20,751,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in XL Group by 19.9% during the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 384 shares during the last quarter. Manchester Capital Management LLC acquired a new position in XL Group during the second quarter valued at approximately $120,000. Pinnacle Financial Partners Inc. acquired a new position in XL Group during the second quarter valued at approximately $202,000. Creative Planning grew its holdings in XL Group by 60.7% during the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 2,001 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in XL Group during the first quarter valued at approximately $228,000. Institutional investors own 95.26% of the company’s stock.
Several equities analysts have commented on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $50.00 price target on shares of XL Group in a report on Thursday. UBS AG lowered their price target on XL Group from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday. Buckingham Research assumed coverage on XL Group in a report on Monday, September 11th. They set a “neutral” rating and a $42.00 price target on the stock. ValuEngine downgraded XL Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $53.00 price target on shares of XL Group in a report on Tuesday, August 29th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.36.
Shares of XL Group Ltd. (XL) opened at 39.64 on Friday. XL Group Ltd. has a 52 week low of $32.81 and a 52 week high of $47.27. The firm has a market cap of $10.22 billion, a P/E ratio of 12.96 and a beta of 1.01. The stock has a 50 day moving average of $42.15 and a 200 day moving average of $42.28.
XL Group (NYSE:XL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating 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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the business earned $0.37 EPS. Equities analysts forecast that XL Group Ltd. will post $3.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
In related news, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the sale, the director now owns 55,008 shares in the company, valued at approximately $2,450,606.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.02% of the stock is currently owned by corporate insiders.
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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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