XL Group Ltd. (XL) Price Target Increased to $46.00 by Analysts at Citigroup Inc.
XL Group Ltd. (NYSE:XL) had its target price upped by equities research analysts at Citigroup Inc. from $43.00 to $46.00 in a research report issued to clients and investors on Thursday, July 13th. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup Inc.’s price target would indicate a potential upside of 3.88% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Credit Suisse Group set a $40.00 target price on XL Group and gave the stock a “hold” rating in a research note on Saturday, March 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 price objective on shares of XL Group in a research note on Wednesday, July 12th. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Morgan Stanley upped their price objective on XL Group from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG upped their price objective on XL Group from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. XL Group presently has an average rating of “Buy” and a consensus price target of $44.90.
Shares of XL Group (XL) opened at 44.28 on Thursday. XL Group has a 1-year low of $32.81 and a 1-year high of $47.27. The stock has a market cap of $11.45 billion, a P/E ratio of 14.48 and a beta of 1.02. The company’s 50-day moving average is $44.66 and its 200 day moving average is $41.66.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Equities research analysts anticipate that XL Group will post $3.26 EPS for the current year.
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In related news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the completion of the sale, the insider now directly owns 57,525 shares of the company’s stock, valued at approximately $2,422,953. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Mauriello sold 3,043 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the sale, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The disclosure for this sale can be found here. Insiders sold a total of 183,293 shares of company stock valued at $7,767,012 over the last three months. 2.59% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of XL Group during the fourth quarter valued at $231,000. Envestnet Asset Management Inc. raised its stake in shares of XL Group by 9.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,536 shares of the insurance provider’s stock valued at $652,000 after buying an additional 1,459 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of XL Group during the fourth quarter valued at $824,000. Kentucky Retirement Systems purchased a new stake in shares of XL Group during the fourth quarter valued at $727,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of XL Group during the fourth quarter valued at $325,000. 98.84% of the stock is owned by institutional investors.
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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