XL Group PLC (XL) Forecasted to Post Q3 2016 Earnings of $0.38 Per Share
XL Group PLC (NYSE:XL) – Research analysts at FBR & Co cut their Q3 2016 earnings estimates for XL Group PLC in a research report issued to clients and investors on Tuesday. FBR & Co analyst R. Binner now anticipates that the brokerage will post earnings of $0.38 per share for the quarter, down from their prior estimate of $0.39.
Several other brokerages have also weighed in on XL. Janney Montgomery Scott lowered shares of XL Group PLC from a “buy” rating to a “neutral” rating in a research report on Monday, September 12th. Langen Mcalenn lowered shares of XL Group PLC from a “buy” rating to a “neutral” rating in a research report on Monday, September 12th. TheStreet upgraded shares of XL Group PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Citigroup Inc. restated a “neutral” rating on shares of XL Group PLC in a research report on Tuesday, June 21st. Finally, Macquarie upped their target price on shares of XL Group PLC from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. XL Group PLC currently has a consensus rating of “Hold” and an average target price of $39.78.
XL Group PLC (NYSE:XL) traded up 0.20% during mid-day trading on Wednesday, hitting $34.47. 341,188 shares of the stock traded hands. XL Group PLC has a 12 month low of $30.33 and a 12 month high of $40.48. The stock’s 50 day moving average is $34.11 and its 200-day moving average is $33.86. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 31.80 and a beta of 1.08.
XL Group PLC (NYSE:XL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.23. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.40 billion. XL Group PLC had a net margin of 3.12% and a return on equity of 3.47%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, September 13th. XL Group PLC’s payout ratio is 74.77%.
Several institutional investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC increased its position in XL Group PLC by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,045 shares of the company’s stock worth $101,000 after buying an additional 33 shares in the last quarter. Global X Management Co. LLC increased its position in XL Group PLC by 125.6% in the second quarter. Global X Management Co. LLC now owns 3,441 shares of the company’s stock worth $115,000 after buying an additional 1,916 shares in the last quarter. Seven Eight Capital LLC bought a new position in XL Group PLC during the second quarter worth $133,000. Mizuho Asset Management Co. Ltd. increased its position in XL Group PLC by 178.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,392 shares of the company’s stock worth $146,000 after buying an additional 2,812 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in XL Group PLC by 360.5% in the second quarter. Advisors Asset Management Inc. now owns 6,447 shares of the company’s stock worth $215,000 after buying an additional 5,047 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
XL Group PLC 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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