XL Group Ltd. (NYSE:XL) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other brokerages have also recently issued reports on XL. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Citigroup Inc. increased their target price on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $50.00 price target (up from $46.00) on shares of XL Group in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. XL Group presently has an average rating of “Hold” and an average target price of $45.73.

XL Group (XL) opened at 39.67 on Wednesday. The stock has a market capitalization of $10.23 billion, a PE ratio of 12.97 and a beta of 1.00. The company’s 50-day moving average is $39.95 and its 200-day moving average is $42.19. XL Group has a 12 month low of $33.22 and a 12 month high of $47.27.

XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $0.37 EPS. Equities research analysts forecast that XL Group will post $1.38 EPS for the current year.

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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 value 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 approximately $2,450,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.02% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of XL Group by 19.9% in the 2nd 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 purchased a new position in shares of XL Group in the 2nd quarter valued at approximately $120,000. Advisor Group Inc. raised its position in shares of XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 747 shares during the last quarter. Group One Trading L.P. purchased a new position in shares of XL Group in the 2nd quarter valued at approximately $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of XL Group in the 2nd quarter valued at approximately $202,000. 95.26% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for XL Group (NYSE:XL)

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