ProShare Advisors LLC Cuts Holdings in XL Group Ltd. (XL)
ProShare Advisors LLC lessened its stake in XL Group Ltd. (NYSE:XL) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,876 shares of the insurance provider’s stock after selling 2,498 shares during the period. ProShare Advisors LLC’s holdings in XL Group were worth $2,579,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in XL. IFP Advisors Inc grew its stake in XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after buying an additional 384 shares in the last quarter. Manchester Capital Management LLC purchased a new position in XL Group in the 2nd quarter worth approximately $120,000. Pinnacle Financial Partners Inc. purchased a new position in XL Group in the 2nd quarter worth approximately $202,000. Gotham Asset Management LLC purchased a new position in XL Group in the 1st quarter worth approximately $228,000. Finally, Columbia Partners L L C Investment Management purchased a new position in XL Group in the 1st quarter worth approximately $229,000. 95.26% of the stock is owned by institutional investors and hedge funds.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction 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 directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.02% of the stock is owned by insiders.
Shares of XL Group Ltd. (NYSE:XL) opened at 39.19 on Monday. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27. The company’s 50-day moving average is $42.15 and its 200-day moving average is $42.28. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 12.82 and a beta of 1.01.
XL Group (NYSE:XL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 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 analyst estimates 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 previous year, the firm earned $0.37 earnings per share. Analysts predict that XL Group Ltd. will post $3.28 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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 14th. XL Group’s payout ratio is 28.57%.
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A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $50.00 price objective on shares of XL Group in a research note on Thursday. BidaskClub cut shares of XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Buckingham Research assumed coverage on shares of XL Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $42.00 price objective for the company. Barclays PLC reaffirmed an “overweight” rating and issued a $51.00 price objective (up previously from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Finally, UBS AG cut their price objective on shares of XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. XL Group has a consensus rating of “Hold” and a consensus target price of $46.36.
XL Group 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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