Scout Investments Inc. Sells 116,978 Shares of XL Group Ltd. (XL)
Scout Investments Inc. decreased its position in XL Group Ltd. (NYSE:XL) by 20.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 454,145 shares of the insurance provider’s stock after selling 116,978 shares during the period. Scout Investments Inc. owned approximately 0.18% of XL Group worth $19,892,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of XL Group by 19.9% in the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after buying an additional 384 shares during the period. Pinnacle Financial Partners Inc. bought a new stake in shares of XL Group during the second quarter worth about $202,000. Creative Planning raised its stake in shares of XL Group by 60.7% in the second quarter. Creative Planning now owns 5,295 shares of the insurance provider’s stock worth $232,000 after buying an additional 2,001 shares during the period. Advisor Partners LLC bought a new stake in shares of XL Group during the first quarter worth about $218,000. Finally, Gotham Asset Management LLC bought a new stake in shares of XL Group during the first quarter worth about $228,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.
XL Group Ltd. (NYSE:XL) opened at 41.305 on Thursday. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 13.507 and a beta of 1.02. The firm’s 50-day moving average price is $44.67 and its 200 day moving average price is $42.33. XL Group also was the recipient of some unusual options trading activity on Monday. Stock traders purchased 6,238 put options on the company. This represents an increase of approximately 1,034% compared to the typical daily volume of 550 put options.
XL Group (NYSE:XL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, analysts expect that XL Group Ltd. will post $3.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 14th. XL Group’s dividend payout ratio is currently 28.57%.
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A number of equities research analysts have recently issued reports on XL shares. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 target price (up from $46.00) on shares of XL Group in a research report on Friday, July 7th. Barclays PLC reaffirmed an “overweight” rating and issued a $51.00 target price (up from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Citigroup Inc. upped their target price on XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $52.00 in a research report on Friday, July 28th. Finally, BidaskClub raised XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. XL Group has a consensus rating of “Hold” and a consensus price target of $46.50.
In related news, Director Joseph Mauriello sold 3,043 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction of $135,565.65. Following the sale, the director now owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles F.A. Cooper sold 18,500 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $42.33, for a total transaction of $783,105.00. Following the sale, the insider now directly owns 110,096 shares in the company, valued at approximately $4,660,363.68. The disclosure for this sale can be found here. 3.02% of the stock is owned by insiders.
XL Group 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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