Global X MANAGEMENT CO LLC Acquires 2,049 Shares of XL Group Ltd. (XL)
Global X MANAGEMENT CO LLC raised its holdings in XL Group Ltd. (NYSE:XL) by 17.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,703 shares of the insurance provider’s stock after buying an additional 2,049 shares during the period. Global X MANAGEMENT CO LLC’s holdings in XL Group were worth $541,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of XL. Meeder Asset Management Inc. increased its stake in shares of XL Group by 36.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 14,181 shares of the insurance provider’s stock worth $559,000 after purchasing an additional 3,759 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of XL Group during the 2nd quarter worth about $928,000. Marshall Wace North America L.P. increased its stake in shares of XL Group by 28.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 75,567 shares of the insurance provider’s stock worth $3,325,000 after purchasing an additional 16,513 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of XL Group by 114.1% during the 2nd quarter. Nomura Holdings Inc. now owns 37,848 shares of the insurance provider’s stock worth $1,659,000 after purchasing an additional 20,174 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of XL Group by 754.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 67,586 shares of the insurance provider’s stock worth $2,961,000 after purchasing an additional 59,675 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.
XL Group Ltd. (NYSE:XL) opened at $38.63 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28. XL Group Ltd. has a 12-month low of $35.70 and a 12-month high of $47.27.
XL Group (NYSE:XL) last issued its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the consensus estimate of ($3.91) by ($0.09). The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.11 billion. XL Group had a negative net margin of 2.51% and a negative return on equity of 4.03%. XL Group’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. analysts forecast that XL Group Ltd. will post -1.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 14th. XL Group’s payout ratio is presently -71.54%.
Several analysts recently commented on the stock. B. Riley reaffirmed a “neutral” rating on shares of XL Group in a report on Monday, November 6th. BidaskClub downgraded shares of XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $50.00 price objective on shares of XL Group in a report on Thursday, September 21st. ValuEngine raised shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Barclays PLC cut their price objective on shares of XL Group from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.50.
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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