OMERS ADMINISTRATION Corp Purchases Shares of 52,700 XL Group Ltd. (XL)
OMERS ADMINISTRATION Corp purchased a new stake in shares of XL Group Ltd. (NYSE:XL) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 52,700 shares of the insurance provider’s stock, valued at approximately $2,308,000.
Several other institutional investors have also added to or reduced their stakes in XL. Vanguard Group Inc. increased its position in XL Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 25,552,611 shares of the insurance provider’s stock valued at $1,018,526,000 after buying an additional 519,170 shares during the last quarter. Wellington Management Group LLP boosted its stake in XL Group by 1.1% in the first quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock valued at $789,353,000 after buying an additional 218,230 shares during the period. BlackRock Inc. boosted its stake in XL Group by 3,113.6% in the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after buying an additional 18,311,662 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in XL Group by 2.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock valued at $559,246,000 after buying an additional 384,760 shares during the period. Finally, FIL Ltd boosted its stake in XL Group by 89.9% in the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after buying an additional 3,214,457 shares during the period. 95.24% of the stock is owned by hedge funds and other institutional investors.
Shares of XL Group Ltd. (NYSE:XL) opened at 41.79 on Wednesday. The firm has a market capitalization of $10.78 billion, a PE ratio of 13.67 and a beta of 1.02. The firm has a 50-day moving average of $44.67 and a 200-day moving average of $42.33. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27. XL Group also was the recipient of some unusual options trading on Monday. Stock traders acquired 6,238 put options on the stock. This represents an increase of 1,034% compared to the average daily volume of 550 put options.
XL Group (NYSE:XL) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 company posted $0.37 earnings per share. Equities analysts anticipate that XL Group Ltd. will post $3.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.11%. XL Group’s payout ratio is currently 28.57%.
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XL has been the subject of several recent analyst reports. BidaskClub cut shares of XL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Barclays PLC reiterated an “overweight” rating and set a $51.00 price objective (up from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price objective (up from $46.00) on shares of XL Group in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 price objective on shares of XL Group in a research report on Wednesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.50.
In related news, 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 sale, the director now directly owns 55,008 shares in the company, valued at $2,450,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles F.A. Cooper sold 18,500 shares of XL Group stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $42.33, for a total value of $783,105.00. Following the completion of the sale, the insider now owns 110,096 shares of the company’s stock, valued at $4,660,363.68. The disclosure for this sale can be found here. Insiders own 3.02% of the company’s stock.
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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