XL Group Ltd. (XL) Price Target Cut to $44.00
XL Group Ltd. (NYSE:XL) had its target price cut by UBS AG from $46.00 to $44.00 in a research note issued to investors on Monday morning, www.benzinga.com reports. They currently have a buy rating on the insurance provider’s stock.
A number of other analysts also recently issued reports on the company. BidaskClub raised XL Group from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Morgan Stanley restated an overweight rating and set a $50.00 target price (up from $46.00) on shares of XL Group in a report on Friday, July 7th. Citigroup Inc. raised their target price on XL Group from $43.00 to $46.00 and gave the company a neutral rating in a report on Thursday, July 13th. Royal Bank Of Canada restated a buy rating and set a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. Finally, Barclays PLC restated an overweight rating and set a $51.00 target price (up from $46.00) on shares of XL Group in a report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $45.73.
Shares of XL Group (XL) opened at 39.54 on Monday. XL Group has a 52 week low of $33.22 and a 52 week high of $47.27. The stock’s 50 day moving average is $40.32 and its 200-day moving average is $42.17. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 12.93 and a beta of 1.00.
XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. The firm 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 last year, the company earned $0.37 EPS. On average, analysts anticipate that XL Group will post $1.75 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Thursday, September 14th. XL Group’s payout ratio is presently 28.57%.
In other news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction dated 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 owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.02% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted 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 buying an additional 384 shares during the period. Manchester Capital Management LLC purchased a new position in shares of XL Group in the 2nd quarter valued at about $120,000. Advisor Group Inc. boosted 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 buying an additional 747 shares during the period. Group One Trading L.P. purchased a new position in shares of XL Group in the 2nd quarter valued at about $192,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of XL Group in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 95.26% of the company’s stock.
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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