XL Group’s (XL) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reiterated their buy rating on shares of XL Group Ltd. (NYSE:XL) in a research report sent to investors on Tuesday morning. Royal Bank Of Canada currently has a $53.00 price objective on the insurance provider’s stock.
A number of other research firms also recently weighed in on XL. ValuEngine upgraded shares of XL Group from a hold rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of XL Group from a hold rating to a sell rating in a research report on Tuesday, July 18th. Citigroup Inc. lifted their price target on shares of XL Group from $43.00 to $46.00 and gave the company a neutral rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of XL Group from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley reiterated an overweight rating and issued a $50.00 price target (up from $46.00) on shares of XL Group in a research report on Friday, July 7th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $46.50.
Shares of XL Group (XL) opened at 41.79 on Tuesday. XL Group has a one year low of $32.81 and a one year high of $47.27. The stock has a market capitalization of $10.78 billion, a P/E ratio of 13.67 and a beta of 1.02. The company’s 50 day moving average price is $44.67 and its 200 day moving average price is $42.33. XL Group also saw unusually large options trading on Monday. Stock investors purchased 6,238 put options on the company. This represents an increase of approximately 1,034% compared to the typical volume of 550 put options.
XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities analysts expect that XL Group will post $3.27 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.11%. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
In other news, insider Charles F.A. Cooper sold 18,500 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $42.33, for a total transaction of $783,105.00. Following the completion of the transaction, the insider now directly owns 110,096 shares in the company, valued at $4,660,363.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the transaction, the director now owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of XL Group by 1.1% in the second quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock valued at $1,131,856,000 after buying an additional 288,860 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of XL Group by 1.1% in the first quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock valued at $789,353,000 after buying an additional 218,230 shares in the last quarter. BlackRock Inc. boosted its stake in shares of XL Group by 3,113.6% in the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after buying an additional 18,311,662 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of XL Group by 2.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock valued at $559,246,000 after buying an additional 384,760 shares in the last quarter. Finally, FIL Ltd boosted its stake in shares of XL Group by 89.9% in the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after buying an additional 3,214,457 shares in the last quarter. 95.24% of the stock is currently 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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