XL Group Ltd. (NYSE:XL) had its price objective upped by stock analysts at Citigroup Inc. from $40.00 to $41.00 in a report released on Thursday. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Citigroup Inc.’s target price indicates a potential upside of 2.40% from the company’s previous close.
A number of other analysts have also recently commented on the company. BidaskClub raised XL Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target (up from $46.00) on shares of XL Group in a research report on Friday, July 7th. Deutsche Bank AG cut XL Group from a “hold” rating to a “sell” rating and dropped their price target for the stock from $42.00 to $37.00 in a research report on Friday, October 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $53.00 price target on shares of XL Group in a research report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $50.00 price target 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 issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.50.
XL Group (NYSE:XL) traded up $0.56 during mid-day trading on Thursday, hitting $40.04. The company’s stock had a trading volume of 4,330,000 shares, compared to its average volume of 3,330,000. The company has a current ratio of 0.07, a quick ratio of 0.34 and a debt-to-equity ratio of 0.28. XL Group has a 1 year low of $34.53 and a 1 year high of $47.27.
XL Group (NYSE:XL) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts expect that XL Group will post -1.34 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in XL. IFP Advisors Inc lifted its holdings in shares of XL Group by 19.9% during the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after buying an additional 384 shares during the period. Manchester Capital Management LLC bought a new position in shares of XL Group during the 2nd quarter valued at $120,000. Advisor Group Inc. lifted its holdings in shares of XL Group by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after buying an additional 747 shares during the period. Group One Trading L.P. bought a new position in shares of XL Group during the 2nd quarter valued at $192,000. Finally, Pinnacle Financial Partners Inc. bought a new position in shares of XL Group during the 2nd quarter valued at $202,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.
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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