Retirement Systems of Alabama Reduces Position in XL Group Ltd. (NYSE:XL)
Retirement Systems of Alabama decreased its position in shares of XL Group Ltd. (NYSE:XL) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 256,348 shares of the insurance provider’s stock after selling 1,322 shares during the period. Retirement Systems of Alabama’s holdings in XL Group were worth $11,228,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in XL. IFP Advisors Inc raised its stake in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after buying an additional 384 shares during the last quarter. Korea Investment CORP raised its stake in shares of XL Group by 58.2% in the second quarter. Korea Investment CORP now owns 129,002 shares of the insurance provider’s stock worth $5,650,000 after buying an additional 47,447 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of XL Group by 2.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 23,777 shares of the insurance provider’s stock worth $1,041,000 after buying an additional 486 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of XL Group by 59.4% in the second quarter. Daiwa Securities Group Inc. now owns 28,050 shares of the insurance provider’s stock worth $1,229,000 after buying an additional 10,450 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its stake in shares of XL Group by 4,962.0% in the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock worth $25,416,000 after buying an additional 568,798 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
XL Group Ltd. (XL) opened at 44.50 on Friday. The firm has a 50-day moving average of $44.71 and a 200 day moving average of $41.86. The stock has a market capitalization of $11.48 billion, a PE ratio of 14.55 and a beta of 1.02. XL Group Ltd. has a one year low of $32.81 and a one year high of $47.27.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $0.37 EPS. On average, equities research analysts anticipate that XL Group Ltd. will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s payout ratio is 28.57%.
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A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of XL Group from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. J P Morgan Chase & Co raised shares of XL Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $52.00 in a research note on Friday, July 28th. ValuEngine raised shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. boosted their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.90.
In other news, General Counsel Gould Kirstin Romann sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $42.56, for a total value of $3,192,000.00. Following the sale, the general counsel now directly owns 162,298 shares in the company, valued at approximately $6,907,402.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider W Myron Hendry sold 85,050 shares of the firm’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 owns 57,525 shares in the company, valued at $2,422,953. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,293 shares of company stock worth $7,767,012. 2.59% of the stock is owned by company 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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