Advisor Partners LLC raised its stake in XL Group Ltd. (NYSE:XL) by 11.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,098 shares of the insurance provider’s stock after buying an additional 636 shares during the period. Advisor Partners LLC’s holdings in XL Group were worth $267,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in XL Group by 3,113.6% in the first quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock valued at $753,345,000 after buying an additional 18,311,662 shares during the last quarter. FIL Ltd increased its stake in XL Group by 89.9% in the first quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock valued at $270,609,000 after buying an additional 3,214,457 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in XL Group by 5,927.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 939,043 shares of the insurance provider’s stock valued at $37,430,000 after buying an additional 923,464 shares during the last quarter. OppenheimerFunds Inc. increased its stake in XL Group by 100.7% in the first quarter. OppenheimerFunds Inc. now owns 1,795,831 shares of the insurance provider’s stock valued at $71,582,000 after buying an additional 901,177 shares during the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in XL Group by 4,962.0% in the second quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock valued at $25,416,000 after buying an additional 568,798 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.
Shares of XL Group Ltd. (XL) opened at 44.41 on Friday. XL Group Ltd. has a 1-year low of $32.81 and a 1-year high of $47.27. The firm’s 50-day moving average price is $44.74 and its 200 day moving average price is $41.91. The stock has a market capitalization of $11.46 billion, a P/E ratio of 14.52 and a beta of 1.02.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. XL Group had a return on equity of 4.88% and a net margin of 7.53%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts expect that XL Group Ltd. will post $3.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.98%. XL Group’s payout ratio is currently 28.57%.
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Several research firms have recently weighed in on XL. BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised XL Group from a “sell” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co raised XL Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $52.00 in a report on Friday, July 28th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. boosted their target price on XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $44.90.
In other news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the sale, the director now owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider W Myron Hendry sold 85,050 shares of XL Group stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total value of $3,582,306.00. Following the sale, the insider now directly owns 57,525 shares in the company, valued at approximately $2,422,953. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,293 shares of company stock valued at $7,767,012. 2.59% of the stock is currently owned by insiders.
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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