XL Group Ltd. (XL) Holdings Cut by FIL Ltd
FIL Ltd lowered its holdings in shares of XL Group Ltd. (NYSE:XL) by 54.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,068,186 shares of the insurance provider’s stock after selling 3,720,792 shares during the quarter. FIL Ltd owned approximately 1.19% of XL Group worth $134,387,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of XL. IFP Advisors Inc raised its holdings in shares of XL Group by 19.9% during the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 384 shares during the last quarter. Manchester Capital Management LLC acquired a new position in shares of XL Group during the second quarter valued at approximately $120,000. Pinnacle Financial Partners Inc. acquired a new position in shares of XL Group during the second quarter valued at approximately $202,000. Menta Capital LLC acquired a new position in shares of XL Group during the second quarter valued at approximately $210,000. Finally, Gotham Asset Management LLC acquired a new position in shares of XL Group during the first quarter valued at approximately $228,000. Institutional investors own 95.26% of the company’s stock.
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In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the transaction, the director now directly owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.02% of the company’s stock.
Shares of XL Group Ltd. (NYSE XL) traded down 1.56% on Friday, reaching $39.02. The company had a trading volume of 369,975 shares. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 12.76 and a beta of 1.01. The firm has a 50-day moving average price of $42.15 and a 200 day moving average price of $42.28. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27.
XL Group (NYSE:XL) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the previous year, the firm posted $0.37 EPS. Equities research analysts predict that XL Group Ltd. will post $3.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.22 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.22%. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
XL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $50.00 target price on shares of XL Group in a report on Thursday. BidaskClub cut XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Buckingham Research initiated coverage on XL Group in a report on Monday, September 11th. They set a “neutral” rating and a $42.00 target price for the company. Barclays PLC reissued an “overweight” rating and set a $51.00 target price (up previously from $46.00) on shares of XL Group in a report on Monday, July 3rd. Finally, UBS AG cut their price target on XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $46.36.
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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