Bp Plc Buys New Stake in XL Group Ltd. (XL)
Bp Plc bought a new position in XL Group Ltd. (NYSE:XL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,000 shares of the insurance provider’s stock, valued at approximately $1,357,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in XL Group by 0.9% in the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock worth $250,000 after buying an additional 54 shares during the period. Mackenzie Financial Corp boosted its position in XL Group by 0.9% in the first quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock worth $354,000 after buying an additional 79 shares during the period. DnB Asset Management AS boosted its position in XL Group by 0.3% in the first quarter. DnB Asset Management AS now owns 30,610 shares of the insurance provider’s stock worth $1,220,000 after buying an additional 100 shares during the period. Great Lakes Advisors LLC boosted its position in XL Group by 1.1% in the first quarter. Great Lakes Advisors LLC now owns 22,911 shares of the insurance provider’s stock worth $913,000 after buying an additional 241 shares during the period. Finally, Shell Asset Management Co. boosted its position in XL Group by 1.8% in the first quarter. Shell Asset Management Co. now owns 17,212 shares of the insurance provider’s stock worth $686,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.
XL Group Ltd. (NYSE:XL) opened at 44.41 on Friday. The stock’s 50 day moving average is $44.74 and its 200-day moving average is $41.91. The firm has a market capitalization of $11.46 billion, a P/E ratio of 14.52 and a beta of 1.02. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27.
XL Group (NYSE:XL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts forecast that XL Group Ltd. will post $3.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s payout ratio is presently 28.57%.
A number of equities analysts have issued reports on the company. 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. BidaskClub upgraded XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Deutsche Bank AG increased their target price on XL Group from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.90.
In other news, insider W Myron Hendry sold 85,050 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total transaction of $3,582,306.00. Following the completion of the sale, the insider now directly owns 57,525 shares of the company’s stock, valued at $2,422,953. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the sale, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,293 shares of company stock valued at $7,767,012. 2.59% of the stock is currently 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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