XL Group Ltd. (XL) Shares Sold by BlackRock Inc.
BlackRock Inc. cut its holdings in XL Group Ltd. (NYSE:XL) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,872,028 shares of the insurance provider’s stock after selling 27,751 shares during the quarter. BlackRock Inc. owned approximately 7.30% of XL Group worth $826,596,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in XL. FIL Ltd boosted its stake in shares of XL Group by 89.9% during the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after purchasing an additional 3,214,457 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of XL Group by 5,927.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 939,043 shares of the insurance provider’s stock valued at $37,430,000 after purchasing an additional 923,464 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of XL Group by 100.7% during the first quarter. OppenheimerFunds Inc. now owns 1,795,831 shares of the insurance provider’s stock valued at $71,582,000 after purchasing an additional 901,177 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of XL Group by 122.9% during the second quarter. Ameriprise Financial Inc. now owns 1,042,682 shares of the insurance provider’s stock valued at $45,668,000 after purchasing an additional 574,914 shares in the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of XL Group by 4,962.0% during the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock valued at $25,416,000 after purchasing an additional 568,798 shares in the last quarter. 95.26% of the stock is currently owned by institutional investors and hedge funds.
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XL has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $46.00 price objective on shares of XL Group in a research report on Wednesday, July 12th. UBS AG lowered their price objective on XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday. BidaskClub upgraded XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. XL Group currently has a consensus rating of “Hold” and an average target price of $46.00.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the sale, the director now owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.02% of the stock is owned by company insiders.
XL Group Ltd. (NYSE XL) opened at 39.03 on Wednesday. The company’s 50 day moving average price is $42.15 and its 200 day moving average price is $42.28. XL Group Ltd. has a 12 month low of $32.81 and a 12 month high of $47.27. The stock has a market cap of $10.07 billion, a PE ratio of 12.76 and a beta of 1.01.
XL Group (NYSE:XL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analyst estimates of $2.78 billion. During the same quarter last year, the company earned $0.37 EPS. Equities analysts forecast that XL Group Ltd. will post $3.28 EPS for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
XL Group 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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