UBS AG Cuts XL Group Ltd. (XL) Price Target to $46.00
XL Group Ltd. (NYSE:XL) had its price objective cut by UBS AG from $48.00 to $46.00 in a report released on Tuesday morning, www.benzinga.com reports. They currently have a buy rating on the insurance provider’s stock.
XL has been the topic of a number of other research reports. BidaskClub lowered XL Group from a buy rating to a hold rating in a report on Wednesday, August 23rd. Citigroup Inc. raised their price target on XL Group from $43.00 to $46.00 and gave the stock a neutral rating in a report on Thursday, July 13th. ValuEngine raised XL Group from a hold rating to a buy rating in a report on Tuesday, July 25th. J P Morgan Chase & Co raised XL Group from a neutral rating to an overweight rating and raised their price target for the stock from $45.00 to $52.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a buy rating and set a $53.00 price target on shares of XL Group in a report on Tuesday, August 29th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $46.36.
XL Group (XL) opened at 39.19 on Tuesday. The firm has a market cap of $10.11 billion, a PE ratio of 12.82 and a beta of 1.01. The stock has a 50 day moving average price of $42.15 and a 200 day moving average price of $42.28. XL Group has a one year low of $32.81 and a one year high of $47.27.
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, topping 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company posted $0.37 earnings per share. Equities research analysts expect that XL Group will post $3.28 EPS for the current year.
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 given a dividend of $0.22 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. XL Group’s payout ratio is 28.57%.
In other news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction of $135,565.65. Following the completion of the sale, the director now directly owns 55,008 shares in the company, valued at approximately $2,450,606.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.02% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of XL Group by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock valued at $1,131,856,000 after acquiring an additional 288,860 shares during the period. Wellington Management Group LLP lifted its position in shares of XL Group by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock valued at $789,353,000 after acquiring an additional 218,230 shares during the period. BlackRock Inc. lifted its position in shares of XL Group by 3,113.6% during the 1st quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after acquiring an additional 18,311,662 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of XL Group by 2.8% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock valued at $559,246,000 after acquiring an additional 384,760 shares during the period. Finally, FIL Ltd lifted its position in shares of XL Group by 89.9% during the 1st quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after acquiring an additional 3,214,457 shares during the period. Institutional investors own 95.26% of the company’s stock.
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).
Receive News & Stock Ratings for XL Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XL Group Ltd. and related stocks with our FREE daily email newsletter.