New York State Teachers Retirement System Raises Stake in XL Group Ltd. (XL)
New York State Teachers Retirement System lifted its stake in shares of XL Group Ltd. (NYSE:XL) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 510,271 shares of the insurance provider’s stock after acquiring an additional 22,084 shares during the period. New York State Teachers Retirement System owned approximately 0.20% of XL Group worth $20,130,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. bought a new stake in shares of XL Group during the third quarter worth $1,925,000. First Business Financial Services Inc. increased its position in shares of XL Group by 16.0% during the third quarter. First Business Financial Services Inc. now owns 12,031 shares of the insurance provider’s stock worth $475,000 after acquiring an additional 1,657 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of XL Group by 9.3% during the third quarter. Pictet Asset Management Ltd. now owns 164,261 shares of the insurance provider’s stock worth $6,480,000 after acquiring an additional 14,000 shares in the last quarter. Korea Investment CORP boosted its holdings in XL Group by 118.5% during the third quarter. Korea Investment CORP now owns 281,902 shares of the insurance provider’s stock worth $11,121,000 after purchasing an additional 152,900 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in XL Group by 14.0% during the third quarter. Aperio Group LLC now owns 161,117 shares of the insurance provider’s stock worth $6,356,000 after purchasing an additional 19,727 shares during the last quarter. 96.67% of the stock is owned by institutional investors.
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Shares of XL Group Ltd. (NYSE XL) opened at $40.04 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.07 and a quick ratio of 0.34. XL Group Ltd. has a 12 month low of $34.53 and a 12 month high of $47.27.
XL Group (NYSE:XL) last announced its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). The firm 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%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. analysts expect that XL Group Ltd. will post -1.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 14th. XL Group’s dividend payout ratio is currently -71.54%.
XL has been the subject of several recent research reports. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. Citigroup Inc. increased their target price on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. XL Group has a consensus rating of “Hold” and an average target price of $45.50.
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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