XL Group (XL) Given New $57.60 Price Target at Citigroup
A number of other brokerages have also weighed in on XL. Keefe, Bruyette & Woods lowered XL Group from an outperform rating to a market perform rating in a research note on Thursday. Barclays restated an overweight rating and issued a $50.00 target price (up from $42.00) on shares of XL Group in a research note on Tuesday, February 20th. Sandler O’Neill restated a hold rating and issued a $43.00 target price on shares of XL Group in a research note on Friday, March 2nd. ValuEngine upgraded XL Group from a sell rating to a hold rating in a research note on Thursday, March 1st. Finally, TheStreet upgraded XL Group from a c+ rating to a b- rating in a research report on Monday, February 26th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. XL Group currently has an average rating of Hold and an average target price of $46.72.
Shares of XL Group (XL) opened at $55.67 on Friday. XL Group has a 12 month low of $33.77 and a 12 month high of $56.39. The firm has a market capitalization of $14,253.41, a price-to-earnings ratio of -24.85, a PEG ratio of 1.67 and a beta of 0.75. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.28.
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 given a $0.22 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.58%. XL Group’s payout ratio is -39.29%.
In other XL Group news, insider Susan Lee Cross sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $39.00, for a total transaction of $780,000.00. Following the transaction, the insider now owns 58,688 shares in the company, valued at $2,288,832. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Gould Kirstin Romann sold 62,290 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $43.09, for a total value of $2,684,076.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,290 shares of company stock valued at $7,078,776. Corporate insiders own 3.02% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of XL. Xact Kapitalforvaltning AB lifted its holdings in shares of XL Group by 5.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 40,051 shares of the insurance provider’s stock valued at $1,408,000 after purchasing an additional 2,154 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of XL Group by 107.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 34,786 shares of the insurance provider’s stock valued at $1,223,000 after purchasing an additional 17,985 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of XL Group by 39.4% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 18,738 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 5,300 shares in the last quarter. LPL Financial LLC bought a new position in shares of XL Group during the 4th quarter valued at about $357,000. Finally, Millennium Management LLC bought a new position in shares of XL Group during the 4th quarter valued at about $3,979,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.
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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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