XL Group Ltd. (XL) Holdings Reduced by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its holdings in shares of XL Group Ltd. (NYSE:XL) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 408,365 shares of the insurance provider’s stock after selling 23,440 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.16% of XL Group worth $16,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FineMark National Bank & Trust purchased a new stake in XL Group during the 3rd quarter valued at $308,000. New York State Teachers Retirement System boosted its stake in shares of XL Group by 4.5% in the 3rd quarter. New York State Teachers Retirement System now owns 510,271 shares of the insurance provider’s stock worth $20,130,000 after buying an additional 22,084 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of XL Group in the 3rd quarter worth $1,925,000. First Business Financial Services Inc. boosted its stake in shares of XL Group by 16.0% in the 3rd quarter. First Business Financial Services Inc. now owns 12,031 shares of the insurance provider’s stock worth $475,000 after buying an additional 1,657 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of XL Group by 9.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 164,261 shares of the insurance provider’s stock worth $6,480,000 after buying an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

XL Group (NYSE:XL) last posted its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, December 14th. XL Group’s payout ratio is currently -71.54%.

A number of equities analysts have recently issued reports on XL shares. 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. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. UBS AG dropped their price target on XL Group from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $50.00 price target on shares of XL Group in a research note on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.50.

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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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Institutional Ownership by Quarter for XL Group (NYSE:XL)

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