XL Group Ltd. (XL) Position Lifted by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. increased its holdings in shares of XL Group Ltd. (NYSE:XL) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,655 shares of the insurance provider’s stock after acquiring an additional 2,068 shares during the period. PNC Financial Services Group Inc.’s holdings in XL Group were worth $862,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in XL. Stifel Financial Corp grew its holdings in XL Group by 5.4% during the first quarter. Stifel Financial Corp now owns 14,472 shares of the insurance provider’s stock worth $576,000 after acquiring an additional 736 shares during the period. Principal Financial Group Inc. grew its holdings in XL Group by 1.1% during the first quarter. Principal Financial Group Inc. now owns 405,515 shares of the insurance provider’s stock worth $16,164,000 after acquiring an additional 4,279 shares during the period. Ngam Advisors L.P. grew its holdings in XL Group by 5.3% during the first quarter. Ngam Advisors L.P. now owns 12,702 shares of the insurance provider’s stock worth $506,000 after acquiring an additional 642 shares during the period. Global X Management Co. LLC grew its holdings in XL Group by 30.5% during the first quarter. Global X Management Co. LLC now owns 9,178 shares of the insurance provider’s stock worth $366,000 after acquiring an additional 2,147 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in XL Group during the first quarter worth $2,362,000. 95.26% of the stock is currently owned by hedge funds and other institutional investors.
In related 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 transaction, the director now directly owns 55,008 shares in the company, valued at approximately $2,450,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.02% of the company’s stock.
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Shares of XL Group Ltd. (XL) opened at 39.67 on Wednesday. The firm’s 50-day moving average price is $39.95 and its 200-day moving average price is $42.19. XL Group Ltd. has a 52-week low of $33.22 and a 52-week high of $47.27. The stock has a market capitalization of $10.23 billion, a P/E ratio of 12.97 and a beta of 1.00.
XL Group (NYSE:XL) last issued its 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. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same period in the previous year, the firm posted $0.37 EPS. Equities analysts forecast that XL Group Ltd. will post $1.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, September 14th. XL Group’s payout ratio is 28.57%.
A number of research analysts recently weighed in on the company. BidaskClub lowered XL Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Citigroup Inc. dropped their price objective on XL Group from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. ValuEngine lowered XL Group from a “hold” rating to a “sell” rating in a report on Wednesday. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $52.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $53.00 price objective on shares of XL Group in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $45.73.
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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