California State Teachers Retirement System cut its holdings in shares of XL Group Ltd. (NYSE:XL) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 444,345 shares of the insurance provider’s stock after selling 41,007 shares during the period. California State Teachers Retirement System owned about 0.17% of XL Group worth $17,529,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of XL Group by 36.1% during the third quarter. Meeder Asset Management Inc. now owns 14,181 shares of the insurance provider’s stock valued at $559,000 after acquiring an additional 3,759 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of XL Group during the second quarter valued at about $928,000. Marshall Wace North America L.P. grew its stake in shares of 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 valued at $3,325,000 after acquiring an additional 16,513 shares in the last quarter. Nomura Holdings Inc. grew its stake in shares of XL Group by 114.1% during the second quarter. Nomura Holdings Inc. now owns 37,848 shares of the insurance provider’s stock valued at $1,659,000 after acquiring an additional 20,174 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of XL Group during the second quarter valued at about $2,263,000. Institutional investors own 98.96% of the company’s stock.
Several equities analysts have recently commented on XL shares. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 13th. Deutsche Bank cut shares of XL Group from a “hold” rating to a “sell” rating and reduced their price target for the stock from $42.00 to $37.00 in a research report on Friday, October 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 price target on shares of XL Group in a research report on Friday, December 8th. Bank of America reduced their price target on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 12th. Finally, Credit Suisse Group increased 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.50.
Shares of XL Group Ltd. (NYSE:XL) traded up $0.22 during midday trading on Friday, reaching $35.49. 3,094,431 shares of the company’s stock were exchanged, compared to its average volume of 2,415,722. 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 1 year low of $33.77 and a 1 year high of $47.27. The company has a market capitalization of $8,760.00, a PE ratio of -30.08, a P/E/G ratio of 1.06 and a beta of 1.00.
XL Group (NYSE:XL) last issued its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share (EPS) 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 business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the business earned $0.44 EPS. The business’s revenue was up 9.0% on a year-over-year basis. research analysts anticipate that XL Group Ltd. will post -1.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.48%. XL Group’s dividend payout ratio is currently -74.58%.
In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $36.59, for a total value of $98,683.23. Following the transaction, the director now owns 66,455 shares of the company’s stock, valued at $2,431,588.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.02% of the company’s stock.
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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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