XL Group Ltd. (XL) Downgraded by Deutsche Bank AG to “Sell”
XL Group Ltd. (NYSE:XL) was downgraded by investment analysts at Deutsche Bank AG from a “hold” rating to a “sell” rating in a report released on Friday.
A number of other research analysts have also recently issued reports on XL. BidaskClub raised shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Barclays PLC reissued an “overweight” rating and issued a $51.00 price objective (up from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price objective (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of XL Group in a research note on Wednesday, July 12th. Finally, Citigroup Inc. lifted their price objective on shares of XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. XL Group has a consensus rating of “Hold” and a consensus price target of $45.83.
Shares of XL Group (XL) opened at 40.67 on Friday. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 13.30 and a beta of 1.00. XL Group has a 52-week low of $33.22 and a 52-week high of $47.27. The company’s 50-day moving average price is $39.74 and its 200-day moving average price is $42.16.
XL Group (NYSE:XL) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period last year, the firm posted $0.37 earnings per share. Equities research analysts forecast that XL Group will post $0.76 EPS for the current fiscal year.
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In related news, Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the sale, the director now owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.02% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of XL Group by 1.1% in the second quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock worth $1,131,856,000 after purchasing an additional 288,860 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of XL Group by 1.7% in the second quarter. Pzena Investment Management LLC now owns 5,197,849 shares of the insurance provider’s stock worth $227,666,000 after purchasing an additional 85,913 shares during the last quarter. Boston Partners grew its stake in shares of XL Group by 2.0% in the second quarter. Boston Partners now owns 4,449,459 shares of the insurance provider’s stock worth $194,887,000 after purchasing an additional 85,422 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of XL Group by 9,672.6% in the second quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after purchasing an additional 3,457,972 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of XL Group by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,013,194 shares of the insurance provider’s stock worth $120,109,000 after purchasing an additional 53,761 shares during the last quarter. 95.26% of the stock is currently owned by institutional investors.
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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