Nordea Investment Management AB raised its holdings in shares of XL Group Ltd. (NYSE:XL) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,557 shares of the insurance provider’s stock after buying an additional 4,002 shares during the period. Nordea Investment Management AB’s holdings in XL Group were worth $2,350,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. IFP Advisors Inc boosted its position in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 384 shares during the period. Manchester Capital Management LLC bought a new position in shares of XL Group in the second quarter worth approximately $120,000. Advisor Group Inc. boosted its position in shares of XL Group by 22.1% in the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 747 shares during the period. Group One Trading L.P. bought a new position in shares of XL Group in the second quarter worth approximately $192,000. Finally, Pinnacle Financial Partners Inc. bought a new position in shares of XL Group in the second quarter worth approximately $202,000. 99.06% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on XL shares. Deutsche Bank lowered shares of XL Group from a “hold” rating to a “sell” rating and dropped their price target for the stock from $42.00 to $37.00 in a research report on Friday, October 13th. Bank of America dropped their price target on shares of XL Group from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, October 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $53.00 price target on shares of XL Group in a research report on Tuesday, August 29th. Credit Suisse Group upped their price target on shares of XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, ValuEngine lowered shares of XL Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.50.
Shares of XL Group Ltd. (NYSE XL) traded down $0.62 during trading hours on Wednesday, hitting $37.32. 1,939,900 shares of the company were exchanged, compared to its average volume of 1,938,279. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.35. XL Group Ltd. has a 12-month low of $36.02 and a 12-month high of $47.27.
XL Group (NYSE:XL) last issued its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $0.44 EPS. XL Group’s revenue was up 9.0% compared to the same quarter last year. research analysts anticipate that XL Group Ltd. will post -1.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, December 14th. XL Group’s payout ratio is -71.54%.
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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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