XL Group (XL) Stock Rating Lowered by Keefe, Bruyette & Woods
Keefe, Bruyette & Woods lowered shares of XL Group (NYSE:XL) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat Ratings reports.
XL has been the topic of several other research reports. Zacks Investment Research lowered shares of XL Group from a hold rating to a strong sell rating in a research note on Wednesday, December 13th. Deutsche Bank upgraded shares of XL Group from a sell rating to a hold rating in a research note on Thursday, February 8th. TheStreet upgraded shares of XL Group from a c+ rating to a b- rating in a research note on Monday, February 26th. Barclays restated an overweight rating and set a $50.00 price target (up previously from $42.00) on shares of XL Group in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada restated a buy rating and set a $46.00 price target on shares of XL Group in a research note on Friday, December 8th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $46.72.
XL Group (XL) opened at $55.67 on Thursday. The firm has a market cap of $14,286.69, a P/E ratio of -24.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.36 and a quick ratio of 0.36. XL Group has a 12 month low of $33.77 and a 12 month high of $56.39.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, March 14th. XL Group’s dividend payout ratio is currently -39.29%.
In related news, insider Susan Lee Cross sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $40.21, for a total transaction of $2,814,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Gould Kirstin Romann sold 62,290 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.09, for a total transaction of $2,684,076.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,290 shares of company stock valued at $7,078,776. 3.02% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC bought a new stake in XL Group in the 4th quarter valued at $110,000. Earnest Partners LLC bought a new stake in XL Group in the 4th quarter valued at $150,000. NuWave Investment Management LLC bought a new stake in XL Group in the 4th quarter valued at $163,000. Advisor Group Inc. boosted its holdings in XL Group by 28.0% in the 4th quarter. Advisor Group Inc. now owns 5,257 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 1,150 shares during the period. Finally, King Luther Capital Management Corp bought a new stake in XL Group in the 4th quarter valued at $211,000. 99.94% of the stock is owned by institutional investors and hedge funds.
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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).
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