XL Group Ltd. (XL) Given Consensus Recommendation of “Buy” by Analysts
XL Group Ltd. (NYSE:XL) has been assigned a consensus rating of “Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.90.
A number of analysts have recently weighed in on XL shares. Royal Bank Of Canada increased their price objective on shares of XL Group from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Deutsche Bank AG increased their price objective on shares of XL Group from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Morgan Stanley increased their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. BidaskClub upgraded shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $51.00 price objective (up previously from $46.00) on shares of XL Group in a research note on Monday, July 3rd.
In related news, Director Anne Stevens sold 1,700 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $43.55, for a total transaction of $74,035.00. Following the sale, the director now directly owns 13,710 shares of the company’s stock, valued at $597,070.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the sale, the director now directly owns 55,008 shares in the company, valued at $2,450,606.40. The disclosure for this sale can be found here. Insiders have sold 183,293 shares of company stock worth $7,767,012 over the last three months. 2.59% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc increased its position in 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 during the last quarter. Manchester Capital Management LLC bought a new position in XL Group during the second quarter valued at about $120,000. Advisor Group Inc. increased its position in 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 during the last quarter. Group One Trading L.P. bought a new position in XL Group during the second quarter valued at about $192,000. Finally, Pinnacle Financial Partners Inc. bought a new position in XL Group during the second quarter valued at about $202,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This story was published by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.watchlistnews.com/xl-group-ltd-xl-given-consensus-recommendation-of-buy-by-analysts/1505246.html.
Shares of XL Group (XL) traded down 0.39% on Friday, hitting $43.79. 1,644,772 shares of the stock traded hands. The stock has a 50 day moving average of $44.82 and a 200 day moving average of $42.10. The company has a market cap of $11.30 billion, a PE ratio of 14.32 and a beta of 1.02. XL Group has a one year low of $32.81 and a one year high of $47.27.
XL Group (NYSE:XL) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same quarter in the prior year, the business earned $0.37 earnings per share. Equities analysts anticipate that XL Group will post $3.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
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).
Receive News & Ratings for XL Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XL Group Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.