XL Group Ltd. (XL) Stake Held by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. continued to hold its stake in XL Group Ltd. (NYSE:XL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,200 shares of the insurance provider’s stock at the end of the second quarter. Icon Advisers Inc. Co. owned 0.06% of XL Group worth $6,885,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in XL Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 25,552,611 shares of the insurance provider’s stock worth $1,018,526,000 after purchasing an additional 519,170 shares in the last quarter. Wellington Management Group LLP boosted its stake in XL Group by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock worth $789,353,000 after purchasing an additional 218,230 shares in the last quarter. BlackRock Inc. boosted its stake in XL Group by 3,113.6% in the 1st quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after purchasing an additional 18,311,662 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in XL Group by 2.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock worth $559,246,000 after purchasing an additional 384,760 shares in the last quarter. Finally, FIL Ltd boosted its stake in XL Group by 89.9% in the 1st quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock worth $270,609,000 after purchasing an additional 3,214,457 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.
In related 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 transaction of $135,565.65. Following the completion of the sale, the director now owns 55,008 shares of the company’s stock, 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. Insiders own 3.02% of the company’s stock.
XL has been the topic of several research analyst reports. BidaskClub cut shares of XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Buckingham Research initiated coverage on shares of XL Group in a research note on Monday. They set a “neutral” rating and a $42.00 target price on the stock. Barclays PLC restated an “overweight” rating and set a $51.00 target price (up previously from $46.00) on shares of XL Group in a research note on Monday, July 3rd. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $50.00 target price (up previously from $46.00) on shares of XL Group in a research note on Friday, July 7th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.
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Shares of XL Group Ltd. (XL) traded down 0.74% during trading on Thursday, hitting $40.12. 168,857 shares of the stock traded hands. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 13.12 and a beta of 1.01. The stock has a 50 day moving average of $42.88 and a 200 day moving average of $42.32. XL Group Ltd. has a 52-week low of $32.81 and a 52-week 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, topping the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Analysts expect that XL Group Ltd. will post $3.28 EPS for the current year.
The company also recently announced 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 dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is 28.57%.
XL Group Company 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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