Barclays Reiterates “Buy” Rating for XL Group (XL)
XL has been the topic of several other research reports. Deutsche Bank downgraded shares of XL Group from a hold rating to a sell rating and reduced their target price for the company from $42.00 to $37.00 in a research note on Friday, October 13th. UBS Group lifted their price target on XL Group from $44.00 to $45.00 and gave the company a buy rating in a report on Monday, October 30th. Zacks Investment Research cut XL Group from a hold rating to a sell rating in a report on Tuesday, September 26th. Bank of America cut their price target on XL Group from $49.00 to $47.00 and set a buy rating for the company in a report on Thursday, October 12th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $46.00 price target on shares of XL Group in a report on Friday, December 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. XL Group presently has an average rating of Hold and an average target price of $44.50.
Shares of XL Group (XL) traded up $0.02 during trading hours on Tuesday, hitting $34.23. 2,032,848 shares of the stock traded hands, compared to its average volume of 2,247,700. XL Group has a 52 week low of $33.77 and a 52 week high of $47.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $8,870.00, a P/E ratio of -29.01, a PEG ratio of 1.06 and a beta of 1.00.
XL Group (NYSE:XL) last issued its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. equities research analysts predict that XL Group will post -1.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.88 annualized dividend and a yield of 2.57%. XL Group’s dividend payout ratio is currently -74.58%.
In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $36.59, for a total transaction of $98,683.23. Following the completion of the sale, the director now directly owns 66,455 shares of the company’s stock, valued at approximately $2,431,588.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.02% of the company’s stock.
Several institutional investors have recently bought and sold shares of XL. Principal Financial Group Inc. grew its position in shares of XL Group by 2.7% during the 2nd quarter. Principal Financial Group Inc. now owns 416,383 shares of the insurance provider’s stock worth $18,238,000 after buying an additional 10,868 shares during the period. AJO LP acquired a new position in shares of XL Group during the 2nd quarter worth about $2,111,000. Teachers Advisors LLC grew its position in shares of XL Group by 13.6% during the 2nd quarter. Teachers Advisors LLC now owns 1,342,420 shares of the insurance provider’s stock worth $58,798,000 after buying an additional 161,139 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of XL Group by 30.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 879,451 shares of the insurance provider’s stock worth $38,520,000 after buying an additional 207,094 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of XL Group by 122.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,042,682 shares of the insurance provider’s stock worth $45,668,000 after buying an additional 574,914 shares during the period. Institutional investors own 98.96% of the company’s stock.
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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