Royal London Asset Management Ltd. Invests $5.66 Million in XL Group Ltd (XL)
Royal London Asset Management Ltd. purchased a new stake in XL Group Ltd (NYSE:XL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 101,110 shares of the insurance provider’s stock, valued at approximately $5,658,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XL. Piedmont Investment Advisors LLC acquired a new stake in shares of XL Group in the 2nd quarter valued at about $167,000. Cerebellum GP LLC acquired a new stake in shares of XL Group in the 2nd quarter valued at about $185,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of XL Group in the 1st quarter valued at about $243,000. Cambria Investment Management L.P. acquired a new stake in shares of XL Group in the 2nd quarter valued at about $256,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of XL Group in the 2nd quarter valued at about $258,000. 78.52% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.83.
XL Group (NYSE:XL) last announced its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.06). The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. XL Group had a negative net margin of 4.67% and a negative return on equity of 4.21%. sell-side analysts forecast that XL Group Ltd will post 3.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 13th. XL Group’s payout ratio is -43.78%.
XL Group Profile
XL Group Ltd, through its subsidiaries, operates as an insurance and reinsurance company worldwide. The company's Insurance segment offers primary and excess casualty, environmental liability, professional liability, property, excess and surplus lines, U.S. program/facilities, and construction business products.
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