4,600 Shares in XL Group Ltd. (NYSE:XL) Acquired by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. bought a new position in shares of XL Group Ltd. (NYSE:XL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,600 shares of the insurance provider’s stock, valued at approximately $202,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP increased its position in XL Group by 24,993.8% in the first quarter. Korea Investment CORP now owns 81,555 shares of the insurance provider’s stock worth $3,251,000 after buying an additional 81,230 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in XL Group during the first quarter worth about $450,000. Nationwide Fund Advisors increased its position in XL Group by 26.6% in the first quarter. Nationwide Fund Advisors now owns 578,099 shares of the insurance provider’s stock worth $23,043,000 after buying an additional 121,481 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in XL Group by 19.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,291 shares of the insurance provider’s stock worth $928,000 after buying an additional 3,773 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in XL Group during the first quarter worth about $621,000. Institutional investors own 98.88% of the company’s stock.
Shares of XL Group Ltd. (NYSE XL) opened at 44.70 on Tuesday. The company has a market capitalization of $11.53 billion, a PE ratio of 14.62 and a beta of 1.02. XL Group Ltd. has a 52 week low of $32.81 and a 52 week high of $47.27. The stock has a 50 day moving average price of $44.78 and a 200-day moving average price of $42.02.
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 Zacks’ consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.37 earnings per share. Equities research analysts expect that XL Group Ltd. will post $3.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio is currently 28.57%.
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A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of XL Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Citigroup Inc. upped their target price on shares of XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of XL Group in a research report on Wednesday, July 12th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.90.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the sale, the director now directly owns 55,008 shares in the company, valued at $2,450,606.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider W Myron Hendry sold 85,050 shares of XL Group stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the completion of the sale, the insider now owns 57,525 shares of the company’s stock, valued at $2,422,953. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,293 shares of company stock worth $7,767,012. 2.59% of the stock is owned by insiders.
XL Group Company 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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