XL Group Ltd. (XL) Price Target Lowered to $47.00 at Bank of America Corporation
XL Group Ltd. (NYSE:XL) had its price objective reduced by Bank of America Corporation from $49.00 to $47.00 in a research note issued to investors on Thursday. They currently have a buy rating on the insurance provider’s stock.
Other analysts also recently issued reports about the company. Royal Bank Of Canada restated a buy rating and issued a $46.00 price target on shares of XL Group in a research report on Wednesday, July 12th. ValuEngine upgraded XL Group from a hold rating to a buy rating in a research report on Tuesday, July 25th. BidaskClub upgraded XL Group from a hold rating to a buy rating in a research report on Tuesday, June 20th. UBS AG lowered their price target on XL Group from $48.00 to $46.00 and set a buy rating for the company in a research report on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods restated a buy rating and issued a $50.00 price target on shares of XL Group in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. XL Group currently has a consensus rating of Hold and an average price target of $45.67.
Shares of XL Group (NYSE:XL) traded up 2.07% during midday trading on Thursday, reaching $41.51. 6,374,224 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $39.74 and its 200 day moving average price is $42.16. XL Group has a one year low of $33.22 and a one year high of $47.27. The firm has a market capitalization of $10.71 billion, a PE ratio of 13.57 and a beta of 1.00.
XL Group (NYSE:XL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the prior year, the company earned $0.37 EPS. On average, equities research analysts expect that XL Group will post ($1.00) earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.12%. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the transaction, the director now owns 55,008 shares in the company, valued at $2,450,606.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.02% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Portformulas Corp acquired a new stake in XL Group in the second quarter worth about $3,574,000. Toronto Dominion Bank boosted its holdings in XL Group by 23.8% in the second quarter. Toronto Dominion Bank now owns 88,610 shares of the insurance provider’s stock worth $3,881,000 after acquiring an additional 17,030 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in XL Group in the second quarter worth about $937,000. Koch Industries Inc. acquired a new stake in XL Group in the second quarter worth about $304,000. Finally, Nomura Holdings Inc. boosted its holdings in XL Group by 114.1% in the second quarter. Nomura Holdings Inc. now owns 37,848 shares of the insurance provider’s stock worth $1,659,000 after acquiring an additional 20,174 shares in the last quarter. 95.26% of the stock is owned by institutional investors and hedge funds.
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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