Axa purchased a new position in XL Group Ltd. (NYSE:XL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 148,617 shares of the insurance provider’s stock, valued at approximately $5,863,000. Axa owned about 0.06% of XL Group as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of XL Group by 19.9% during the second quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 384 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of XL Group during the second quarter valued at about $120,000. Advisor Group Inc. increased its position in shares of XL Group by 22.1% during the second 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. purchased a new position in shares of XL Group during the second quarter valued at about $192,000. Finally, Menta Capital LLC purchased a new position in shares of XL Group during the second quarter valued at about $210,000. 98.96% of the stock is owned by institutional investors and hedge funds.
In other news, Director John Kcb Vereker sold 2,697 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $36.59, for a total transaction of $98,683.23. Following the sale, the director now owns 66,455 shares in the company, valued at $2,431,588.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.02% of the company’s stock.
XL Group (NYSE:XL) last announced its quarterly earnings data on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company posted $0.44 EPS. XL Group’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts expect that XL Group Ltd. will post -1.96 EPS for the current 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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, December 14th. XL Group’s payout ratio is -71.54%.
XL has been the topic of several research analyst reports. Deutsche Bank cut shares of XL Group from a “hold” rating to a “sell” rating and reduced their price target for the company from $42.00 to $37.00 in a research report on Friday, October 13th. UBS Group boosted their price target on shares of XL Group from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Bank of America reduced their price target on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 12th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $46.00 price target on shares of XL Group in a research report on Friday, December 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.92.
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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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