Korea Investment CORP Raises Stake in XL Group Ltd. (XL)
Korea Investment CORP raised its position in XL Group Ltd. (NYSE:XL) by 58.2% during the second quarter, Holdings Channel reports. The fund owned 129,002 shares of the insurance provider’s stock after buying an additional 47,447 shares during the period. Korea Investment CORP’s holdings in XL Group were worth $5,650,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of XL. Advisor Partners LLC purchased a new position in shares of XL Group during the first quarter worth about $218,000. Gotham Asset Management LLC purchased a new position in shares of XL Group during the first quarter worth about $228,000. Columbia Partners L L C Investment Management purchased a new position in shares of XL Group during the first quarter worth about $229,000. Creative Planning increased its position in shares of XL Group by 60.7% in the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock worth $232,000 after buying an additional 2,001 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of XL Group during the first quarter worth about $244,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
XL Group Ltd. (NYSE:XL) opened at 44.41 on Friday. XL Group Ltd. has a 52-week low of $32.81 and a 52-week high of $47.27. The firm has a market cap of $11.46 billion, a P/E ratio of 14.52 and a beta of 1.02. The company’s 50 day moving average is $44.74 and its 200-day moving average is $41.91.
XL Group (NYSE:XL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion during 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 quarter in the previous year, the firm earned $0.37 EPS. On average, equities analysts predict that XL Group Ltd. will post $3.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.22 dividend. 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 dividend payout ratio is presently 28.57%.
A number of brokerages have recently issued reports on XL. Citigroup Inc. boosted their price target on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co upgraded shares of XL Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $52.00 in a research report on Friday, July 28th. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of XL Group from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.90.
In other news, Director Anne Stevens sold 1,700 shares of XL Group stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $43.55, for a total value of $74,035.00. Following the completion of the transaction, the director now owns 13,710 shares of the company’s stock, valued at approximately $597,070.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,293 shares of company stock valued at $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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