XL Group Ltd. (XL) Holdings Reduced by Teacher Retirement System of Texas
Teacher Retirement System of Texas lowered its position in XL Group Ltd. (NYSE:XL) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721,764 shares of the insurance provider’s stock after selling 35,986 shares during the quarter. Teacher Retirement System of Texas owned 0.28% of XL Group worth $28,474,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. IFP Advisors Inc raised its stake in shares of XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 384 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of XL Group in the 2nd quarter valued at about $120,000. Advisor Group Inc. raised its stake in shares of XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 747 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of XL Group in the 2nd quarter valued at about $192,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of XL Group in the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.
A number of equities research analysts have recently issued reports on XL shares. Deutsche Bank AG lowered shares of XL Group from a “hold” rating to a “sell” rating and cut their target price for the company from $42.00 to $37.00 in a research note on Friday, October 13th. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 target price on shares of XL Group in a research note on Tuesday, August 29th. Bank of America Corporation cut their target price on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $50.00 target price on shares of XL Group in a research note on Thursday, September 21st. Finally, ValuEngine lowered shares of XL Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.50.
Shares of XL Group Ltd. (XL) traded down $0.31 during trading hours on Tuesday, hitting $39.40. 1,693,800 shares of the company were exchanged, compared to its average volume of 1,924,798. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28. XL Group Ltd. has a twelve month low of $35.70 and a twelve month high of $47.27.
XL Group (NYSE:XL) last posted its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the consensus estimate of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company posted $0.44 EPS. XL Group’s revenue for the quarter was up 9.0% on a year-over-year basis. equities analysts expect that XL Group Ltd. will post -1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, December 14th. XL Group’s dividend payout ratio (DPR) is -71.54%.
XL Group 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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