JMP Securities downgraded shares of XL Group (NYSE:XL) from an outperform rating to a market perform rating in a research report report published on Monday morning, Marketbeat reports.
Several other equities analysts have also recently commented on the stock. Barclays reaffirmed a buy rating and set a $42.00 price target on shares of XL Group in a research report on Tuesday, January 9th. ValuEngine raised shares of XL Group from a sell rating to a hold rating in a research report on Thursday, March 1st. Citigroup increased their price target on shares of XL Group from $40.00 to $43.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Sandler O’Neill reaffirmed a hold rating and set a $43.00 price target on shares of XL Group in a research report on Friday, March 2nd. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $46.00 price target on shares of XL Group in a research report on Friday, December 8th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. XL Group presently has a consensus rating of Hold and a consensus target price of $46.72.
Shares of XL Group (NYSE:XL) opened at $55.56 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $14,350.00, a PE ratio of -25.72, a PEG ratio of 1.67 and a beta of 0.75. XL Group has a 52 week low of $33.77 and a 52 week high of $56.39.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.58%. XL Group’s dividend payout ratio is currently -40.74%.
In other XL Group news, General Counsel Gould Kirstin Romann sold 62,290 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.09, for a total value of $2,684,076.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the insider now directly owns 58,688 shares in the company, valued at approximately $2,288,832. The disclosure for this sale can be found here. Insiders sold 172,290 shares of company stock worth $7,078,776 in the last three months. 3.02% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. lifted its holdings in XL Group by 28.0% in the fourth quarter. Advisor Group Inc. now owns 5,257 shares of the insurance provider’s stock worth $185,000 after acquiring an additional 1,150 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of XL Group by 5.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 24,146 shares of the insurance provider’s stock valued at $957,000 after buying an additional 1,300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of XL Group by 8.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,978 shares of the insurance provider’s stock valued at $828,000 after buying an additional 1,555 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of XL Group by 3.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 51,913 shares of the insurance provider’s stock valued at $1,825,000 after buying an additional 1,603 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of XL Group by 3.0% during the third quarter. Commonwealth Bank of Australia now owns 57,698 shares of the insurance provider’s stock valued at $2,273,000 after buying an additional 1,692 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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