Oregon Public Employees Retirement Fund Has $3.88 Million Position in XL Group Ltd. (XL)
Oregon Public Employees Retirement Fund increased its position in XL Group Ltd. (NYSE:XL) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,301 shares of the insurance provider’s stock after purchasing an additional 1,882 shares during the period. Oregon Public Employees Retirement Fund’s holdings in XL Group were worth $3,878,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 384 shares in the last quarter. Manchester Capital Management LLC bought a new position in XL Group in the 2nd quarter worth about $120,000. Advisor Group Inc. boosted its stake in XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 747 shares in the last quarter. Group One Trading L.P. bought a new position in XL Group in the 2nd quarter worth about $192,000. Finally, Pinnacle Financial Partners Inc. bought a new position in XL Group in the 2nd quarter worth about $202,000. Institutional investors own 96.67% of the company’s stock.
XL has been the topic of several research analyst reports. Citigroup Inc. upped their target price on shares of XL Group from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Bank of America Corporation lowered their target price on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, October 12th. UBS AG lowered their target price on shares of XL Group from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $50.00 target price on shares of XL Group in a research note on Thursday, September 21st. Finally, BidaskClub cut shares of XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.50.
Shares of XL Group Ltd. (NYSE XL) opened at $39.71 on Friday. XL Group Ltd. has a fifty-two week low of $35.70 and a fifty-two week high of $47.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.34.
XL Group (NYSE:XL) last released its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. equities research analysts forecast that XL Group Ltd. will post -1.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, December 14th. XL Group’s dividend payout ratio (DPR) is currently -71.54%.
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About XL Group
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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