Short Interest in XL Group Ltd. (XL) Expands By 35.8%
XL Group Ltd. (NYSE:XL) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 17,236,012 shares, an increase of 35.8% from the October 13th total of 12,692,008 shares. Approximately 6.8% of the shares of the company are sold short. Based on an average daily trading volume, of 3,186,583 shares, the short-interest ratio is presently 5.4 days.
Shares of XL Group (XL) opened at $38.63 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35. XL Group has a 12 month low of $35.70 and a 12 month high of $47.27.
XL Group (NYSE:XL) last posted its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.91) by ($0.09). XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. equities analysts predict that XL Group will post -1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.28%. XL Group’s dividend payout ratio (DPR) is presently -71.54%.
Several research analysts have commented on XL shares. Citigroup Inc. lifted their price target on XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Bank of America Corporation cut their price target on XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 12th. UBS AG cut their price target on XL Group from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $50.00 price target on shares of XL Group in a research report on Thursday, September 21st. Finally, BidaskClub lowered XL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.50.
Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted 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 valued at $101,000 after buying an additional 384 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of XL Group in the second quarter valued at approximately $120,000. Advisor Group Inc. boosted its stake in shares of XL Group by 22.1% in the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after buying an additional 747 shares in the last quarter. Group One Trading L.P. purchased a new stake in shares of XL Group in the second quarter valued at approximately $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of XL Group in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.
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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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