Barings LLC lifted its stake in shares of XL Group Ltd. (NYSE:XL) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,835 shares of the insurance provider’s stock after acquiring an additional 9,500 shares during the quarter. Barings LLC’s holdings in XL Group were worth $2,992,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in XL. IFP Advisors Inc boosted its stake in XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 384 shares during the period. Manchester Capital Management LLC bought a new position in XL Group in the 2nd quarter worth approximately $120,000. Advisor Group Inc. boosted its stake in XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 747 shares during the period. Group One Trading L.P. bought a new position in XL Group in the 2nd quarter worth approximately $192,000. Finally, Pinnacle Financial Partners Inc. bought a new position in XL Group in the 2nd quarter worth approximately $202,000. Institutional investors own 99.06% of the company’s stock.
Several research firms have weighed in on XL. BidaskClub downgraded XL Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price target on shares of XL Group in a research note on Tuesday, August 29th. TheStreet downgraded XL Group from a “b” rating to a “c” rating in a research note on Tuesday, October 24th. Credit Suisse Group upped their price target on XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Barclays dropped their price target on XL Group from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight 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 target price of $45.50.
XL Group (NYSE:XL) last issued its quarterly earnings data on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.91) by ($0.09). The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. equities analysts forecast that XL Group Ltd. will post -1.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. XL Group’s dividend payout ratio (DPR) is -71.54%.
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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).
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