XL Group Ltd. (XL) Shares Sold by Systematic Financial Management LP
Systematic Financial Management LP lowered its stake in XL Group Ltd. (NYSE:XL) by 63.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 763,233 shares of the insurance provider’s stock after selling 1,298,469 shares during the period. Systematic Financial Management LP owned 0.29% of XL Group worth $30,422,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. SRB Corp raised its position in shares of XL Group by 15.4% in the third quarter. SRB Corp now owns 4,689 shares of the insurance provider’s stock worth $158,000 after buying an additional 627 shares during the period. Advisor Partners LLC bought a new position in shares of XL Group during the first quarter worth about $218,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of XL Group during the fourth quarter worth about $231,000. Meiji Yasuda Life Insurance Co bought a new position in shares of XL Group during the first quarter worth about $283,000. Finally, Suntrust Banks Inc. bought a new position in shares of XL Group during the first quarter worth about $314,000. Institutional investors and hedge funds own 97.71% of the company’s stock.
XL Group Ltd. (XL) traded up 0.37% during mid-day trading on Friday, hitting $43.43. The stock had a trading volume of 317,974 shares. XL Group Ltd. has a 52 week low of $30.33 and a 52 week high of $44.39. The company’s 50 day moving average is $42.61 and its 200-day moving average is $40.00. The stock has a market capitalization of $11.35 billion, a P/E ratio of 20.88 and a beta of 1.01.
XL Group (NYSE:XL) last issued its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.93 billion. XL Group had a net margin of 5.25% and a return on equity of 3.71%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, analysts expect that XL Group Ltd. will post $3.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, June 13th. XL Group’s dividend payout ratio is currently 42.11%.
XL has been the topic of a number of recent research reports. Citigroup Inc. lifted their price target on shares of XL Group from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, April 7th. Sandler O’Neill downgraded shares of XL Group from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research note on Monday, March 13th. Morgan Stanley lifted their price target on XL Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Deutsche Bank AG lifted their price target on XL Group from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Royal Bank Of Canada lifted their price target on XL Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $42.40.
In other XL Group news, insider W Myron Hendry sold 85,050 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total value of $3,582,306.00. Following the sale, the insider now owns 57,525 shares of the company’s stock, valued at $2,422,953. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne Stevens sold 1,700 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $43.55, for a total transaction of $74,035.00. Following the completion of the sale, the director now directly owns 13,710 shares in the company, valued at approximately $597,070.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,250 shares of company stock worth $7,631,446. 2.59% of the stock is owned by insiders.
About XL Group
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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