Veritable L.P. trimmed its stake in shares of XL Group Ltd. (NYSE:XL) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,718 shares of the insurance provider’s stock after selling 951 shares during the quarter. Veritable L.P.’s holdings in XL Group were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of Nova Scotia boosted its position in XL Group by 0.9% during the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock worth $250,000 after purchasing an additional 54 shares during the period. Mackenzie Financial Corp boosted its position in XL Group by 0.9% during the first quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock worth $354,000 after purchasing an additional 79 shares during the period. DnB Asset Management AS lifted its holdings in shares of XL Group by 0.7% during the second quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock worth $1,349,000 after buying an additional 200 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of XL Group by 1.4% during the second quarter. Great Lakes Advisors LLC now owns 23,238 shares of the insurance provider’s stock worth $1,018,000 after buying an additional 327 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of XL Group by 19.9% during the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after buying an additional 384 shares in the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Wednesday, July 12th. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $50.00 target price on shares of XL Group in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.73.

XL Group Ltd. (NYSE:XL) opened at 39.15 on Thursday. The firm has a market cap of $10.10 billion, a P/E ratio of 12.80 and a beta of 1.00. XL Group Ltd. has a 1-year low of $33.01 and a 1-year high of $47.27. The company has a 50-day moving average price of $40.47 and a 200-day moving average price of $42.19.

XL Group (NYSE:XL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts forecast that XL Group Ltd. will post $1.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.88 annualized dividend 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 the 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.02% of the stock is currently owned by corporate insiders.

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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).

Institutional Ownership by Quarter for XL Group (NYSE:XL)

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