NorthCoast Asset Management LLC Acquires 2,062 Shares of XL Group Ltd. (XL)
NorthCoast Asset Management LLC lifted its holdings in shares of XL Group Ltd. (NYSE:XL) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,476 shares of the insurance provider’s stock after purchasing an additional 2,062 shares during the period. NorthCoast Asset Management LLC’s holdings in XL Group were worth $1,510,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of XL. Nisa Investment Advisors LLC increased its stake in shares of XL Group by 3.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 23,920 shares of the insurance provider’s stock worth $953,000 after purchasing an additional 735 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of XL Group by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,675 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 1,919 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of XL Group by 1.8% during the 1st quarter. Shell Asset Management Co. now owns 17,212 shares of the insurance provider’s stock worth $686,000 after purchasing an additional 299 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of XL Group by 2.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,924 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 300 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of XL Group by 23.8% during the 1st quarter. Advisors Asset Management Inc. now owns 12,467 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 2,394 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.
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In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 55,008 shares in the company, valued at approximately $2,450,606.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.02% of the stock is currently owned by corporate insiders.
XL Group Ltd. (NYSE XL) traded up 5.177% during mid-day trading on Monday, reaching $40.609. 1,384,213 shares of the company’s stock traded hands. XL Group Ltd. has a 52-week low of $32.81 and a 52-week high of $47.27. The company has a 50-day moving average of $43.22 and a 200-day moving average of $42.32. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 13.280 and a beta of 1.01.
XL Group (NYSE:XL) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. Equities research analysts expect that XL Group Ltd. will post $3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.28%. XL Group’s dividend payout ratio is presently 28.57%.
A number of brokerages have recently weighed in on XL. ValuEngine cut shares of XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub cut shares of XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 target price on shares of XL Group in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of XL Group from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co raised shares of XL Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $52.00 in a research note on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.50.
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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