Retirement Systems of Alabama Sells 39,678 Shares of XL Group Ltd. (XL)
Retirement Systems of Alabama lowered its position in shares of XL Group Ltd. (NYSE:XL) by 15.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 216,670 shares of the insurance provider’s stock after selling 39,678 shares during the period. Retirement Systems of Alabama owned 0.08% of XL Group worth $8,548,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in XL. Vanguard Group Inc. lifted its holdings in XL Group by 1.1% in the second quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock worth $1,131,856,000 after purchasing an additional 288,860 shares during the period. Boston Partners lifted its holdings in XL Group by 25.8% in the third quarter. Boston Partners now owns 5,597,711 shares of the insurance provider’s stock worth $220,830,000 after purchasing an additional 1,148,252 shares during the period. Pzena Investment Management LLC lifted its holdings in XL Group by 1.7% in the second quarter. Pzena Investment Management LLC now owns 5,197,849 shares of the insurance provider’s stock worth $227,666,000 after purchasing an additional 85,913 shares during the period. Janus Henderson Group PLC lifted its holdings in XL Group by 9,672.6% in the second quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after purchasing an additional 3,457,972 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in XL Group by 25.8% in the second quarter. Russell Investments Group Ltd. now owns 2,383,700 shares of the insurance provider’s stock worth $104,422,000 after purchasing an additional 488,797 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.
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A number of brokerages have weighed in on XL. BidaskClub downgraded shares of XL Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. B. Riley reissued a “neutral” rating on shares of XL Group in a report on Monday, November 6th. Citigroup Inc. cut their price target on shares of XL Group from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 2nd. UBS AG cut their price target on shares of XL Group from $46.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Finally, Buckingham Research began coverage on shares of XL Group in a report on Monday, September 11th. They issued a “neutral” rating and a $42.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. XL Group currently has a consensus rating of “Hold” and a consensus target price of $45.50.
Shares of XL Group Ltd. (NYSE:XL) opened at $38.63 on Friday. XL Group Ltd. has a 52 week low of $35.70 and a 52 week high of $47.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28.
XL Group (NYSE:XL) last issued its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.11 billion. XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. XL Group’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. analysts forecast that XL Group Ltd. will post -1.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.28%. XL Group’s dividend payout ratio is -71.54%.
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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