Prudential Financial Inc. Has $70,922,000 Position in XL Group PLC (XL)
Prudential Financial Inc. raised its stake in shares of XL Group PLC (NYSE:XL) by 255.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,108,891 shares of the company’s stock after buying an additional 1,515,007 shares during the period. Prudential Financial Inc. owned approximately 0.72% of XL Group PLC worth $70,922,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in XL. Checchi Capital Advisers LLC boosted 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 valued at $101,000 after buying an additional 33 shares during the last quarter. Global X Management Co. LLC boosted 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 valued at $115,000 after buying an additional 1,916 shares during the last quarter. Seven Eight Capital LLC purchased a new position in XL Group PLC during the second quarter valued at $133,000. Mizuho Asset Management Co. Ltd. boosted 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 valued at $146,000 after buying an additional 2,812 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new position in XL Group PLC during the third quarter valued at $200,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.
XL Group PLC (NYSE:XL) opened at 36.49 on Wednesday. The stock’s 50 day moving average price is $35.50 and its 200-day moving average price is $34.02. XL Group PLC has a 12 month low of $30.33 and a 12 month high of $40.48. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 28.78 and a beta of 0.97.
XL Group PLC (NYSE:XL) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. XL Group PLC had a net margin of 3.55% and a return on equity of 3.86%. The business earned $2.13 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that XL Group PLC will post $1.70 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. XL Group PLC’s dividend payout ratio is presently 65.04%.
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Several research firms have recently weighed in on XL. Citigroup Inc. assumed coverage on XL Group PLC in a report on Tuesday, November 22nd. They set a “neutral” rating and a $39.00 price target on the stock. Langen Mcalenn lowered XL Group PLC from a “buy” rating to a “neutral” rating in a research note on Monday, September 12th. Credit Suisse Group AG restated a “hold” rating and issued a $37.00 price objective on shares of XL Group PLC in a research note on Monday, September 12th. Janney Montgomery Scott lowered XL Group PLC from a “buy” rating to a “neutral” rating in a research note on Monday, September 12th. Finally, TheStreet upgraded XL Group PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.70.
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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