XL Group Ltd. (XL) Price Target Lowered to $41.00 at Citigroup Inc.
XL Group Ltd. (NYSE:XL) had its price target lowered by Citigroup Inc. from $43.00 to $41.00 in a report released on Monday. The brokerage currently has a neutral rating on the insurance provider’s stock.
A number of other research firms also recently commented on XL. BidaskClub raised XL Group from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Morgan Stanley reissued an overweight rating and issued a $50.00 target price (up from $46.00) on shares of XL Group in a report on Friday, July 7th. Royal Bank Of Canada reissued a buy rating and issued a $53.00 target price on shares of XL Group in a report on Tuesday, August 29th. Barclays PLC restated an overweight rating and issued a $51.00 target price (up from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Finally, Zacks Investment Research cut shares of XL Group from a hold rating to a sell rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. XL Group presently has an average rating of Hold and an average price target of $45.73.
Shares of XL Group (XL) opened at 39.61 on Monday. XL Group has a 52 week low of $32.97 and a 52 week high of $47.27. The firm has a market cap of $10.22 billion, a P/E ratio of 12.95 and a beta of 1.00. The stock has a 50 day moving average of $40.77 and a 200 day moving average of $42.21.
XL Group (NYSE:XL) last announced its earnings results 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 company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same quarter last year, the company earned $0.37 earnings per share. Equities analysts forecast that XL Group will post $3.28 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, September 14th. XL Group’s dividend payout ratio is presently 28.57%.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the firm’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 completion of the sale, the director now directly owns 55,008 shares in the company, valued at $2,450,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.02% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL bought a new stake in XL Group during the 2nd quarter worth approximately $928,000. Marshall Wace North America L.P. grew its holdings in XL Group by 28.0% during the second quarter. Marshall Wace North America L.P. now owns 75,567 shares of the insurance provider’s stock worth $3,325,000 after buying an additional 16,513 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in XL Group during the first quarter worth $1,435,000. Robeco Institutional Asset Management B.V. grew its holdings in XL Group by 754.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 67,586 shares of the insurance provider’s stock worth $2,961,000 after buying an additional 59,675 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in XL Group during the first quarter worth $1,193,000. Institutional investors 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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