U S Global Investors Inc. Purchases Shares of 9,100 XL Group Ltd. (XL)
U S Global Investors Inc. purchased a new stake in shares of XL Group Ltd. (NYSE:XL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,100 shares of the insurance provider’s stock, valued at approximately $359,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of XL Group by 45.1% during the third quarter. Janus Henderson Group PLC now owns 5,071,040 shares of the insurance provider’s stock valued at $200,052,000 after acquiring an additional 1,577,318 shares during the period. Caxton Associates LP acquired a new stake in shares of XL Group during the third quarter valued at approximately $517,000. Vident Investment Advisory LLC acquired a new stake in shares of XL Group during the third quarter valued at approximately $539,000. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of XL Group by 35.1% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 638,825 shares of the insurance provider’s stock valued at $25,199,000 after acquiring an additional 165,850 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of XL Group by 13.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 38,396 shares of the insurance provider’s stock valued at $1,514,000 after acquiring an additional 4,580 shares during the period. Institutional investors and hedge funds own 99.06% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of XL Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating and set a $53.00 price target on shares of XL Group in a report on Tuesday, August 29th. TheStreet lowered shares of XL Group from a “b” rating to a “c” rating in a report on Tuesday, October 24th. Credit Suisse Group upped their price objective on shares of XL Group from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, Barclays dropped their price objective on shares of XL Group from $51.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.92.
XL Group Ltd. (XL) traded up $0.14 during trading on Monday, reaching $36.87. 2,030,900 shares of the company’s stock traded hands, compared to its average volume of 1,938,271. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28. XL Group Ltd. has a 1 year low of $36.02 and a 1 year high of $47.27.
XL Group (NYSE:XL) last released its quarterly earnings data on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.11 billion. XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. equities research analysts forecast that XL Group Ltd. will post -1.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.39%. XL Group’s dividend payout ratio (DPR) is -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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