Citigroup Inc. initiated coverage on shares of XL Group PLC (NYSE:XL) in a research note released on Tuesday morning. The brokerage issued a neutral rating and a $39.00 price target on the stock.

XL has been the subject of several other research reports. Macquarie increased their price objective on shares of XL Group PLC from $38.00 to $40.00 and gave the company an outperform rating in a report on Monday, August 29th. TheStreet raised shares of XL Group PLC from a hold rating to a buy rating in a report on Tuesday, September 6th. Credit Suisse Group AG reissued a hold rating and set a $37.00 price objective on shares of XL Group PLC in a report on Monday, September 12th. Keefe, Bruyette & Woods raised shares of XL Group PLC from a market perform rating to an outperform rating and increased their price objective for the company from $42.00 to $44.00 in a report on Thursday, August 25th. Finally, Langen Mcalenn downgraded shares of XL Group PLC from a buy rating to a neutral rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $39.70.

Shares of XL Group PLC (NYSE:XL) traded down 0.35% during trading on Tuesday, hitting $36.94. 93,665 shares of the stock traded hands. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 29.13 and a beta of 0.97. The firm’s 50-day moving average price is $35.16 and its 200-day moving average price is $33.95. XL Group PLC has a 52 week low of $30.33 and a 52 week high of $40.48.

XL Group PLC (NYSE:XL) last issued its earnings results on Wednesday, October 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The company earned $2.13 billion during the quarter, compared to the consensus estimate of $2.46 billion. XL Group PLC had a net margin of 3.55% and a return on equity of 3.86%. XL Group PLC’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that XL Group PLC will post $1.70 earnings per share for the current year.

The firm also recently disclosed a special dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 13th. XL Group PLC’s dividend payout ratio is presently 65.04%.

Institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in XL Group PLC during the second quarter worth about $121,742,000. Emerald Acquisition Ltd. acquired a new position in XL Group PLC during the second quarter worth about $61,288,000. JPMorgan Chase & Co. increased its position in XL Group PLC by 21.3% in the second quarter. JPMorgan Chase & Co. now owns 9,969,772 shares of the company’s stock worth $332,094,000 after buying an additional 1,749,358 shares in the last quarter. Cambiar Investors LLC acquired a new position in XL Group PLC during the second quarter worth about $57,967,000. Finally, Prudential Financial Inc. increased its position in XL Group PLC by 255.1% in the third quarter. Prudential Financial Inc. now owns 2,108,891 shares of the company’s stock worth $70,922,000 after buying an additional 1,515,007 shares in the last quarter. Hedge funds and other institutional investors own 92.31% of the company’s stock.

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About XL Group PLC

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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