First Business Financial Services Inc. boosted its position in XL Group Ltd. (NYSE:XL) by 16.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,031 shares of the insurance provider’s stock after purchasing an additional 1,657 shares during the period. First Business Financial Services Inc.’s holdings in XL Group were worth $475,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of Nova Scotia lifted its position in XL Group by 0.9% in the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock worth $250,000 after purchasing an additional 54 shares during the period. DnB Asset Management AS lifted its position in XL Group by 0.7% in the second quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock worth $1,349,000 after purchasing an additional 200 shares during the period. Great Lakes Advisors LLC lifted its position in XL Group by 1.4% in the second quarter. Great Lakes Advisors LLC now owns 23,238 shares of the insurance provider’s stock worth $1,018,000 after purchasing an additional 327 shares during the period. HighTower Advisors LLC lifted its position in XL Group by 4.4% in the second quarter. HighTower Advisors LLC now owns 8,708 shares of the insurance provider’s stock worth $382,000 after purchasing an additional 370 shares during the period. Finally, IFP Advisors Inc lifted its position in XL Group by 19.9% in the second 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. Hedge funds and other institutional investors own 95.85% of the company’s stock.
Shares of XL Group Ltd. (XL) traded up 1.81% during mid-day trading on Monday, reaching $41.54. 594,578 shares of the company’s stock traded hands. The company’s 50 day moving average is $40.14 and its 200-day moving average is $42.30. XL Group Ltd. has a 52 week low of $33.77 and a 52 week high of $47.27. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 13.58 and a beta of 1.00.
XL Group (NYSE:XL) last announced its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. Equities analysts expect that XL Group Ltd. will post ($1.44) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.16%. XL Group’s dividend payout ratio is -71.54%.
XL has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $53.00 price objective on shares of XL Group in a research report on Tuesday, August 29th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG cut their price objective on XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $50.00 price objective on shares of XL Group in a research report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.42.
In other news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total transaction of $135,565.65. Following the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.02% of the company’s stock.
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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