XL Group (XL) Earns “Buy” Rating from Barclays

XL Group (NYSE:XL)‘s stock had its “buy” rating reissued by Barclays in a research note issued to investors on Tuesday. They presently have a $42.00 price target on the insurance provider’s stock. Barclays’ price target would indicate a potential upside of 22.70% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. B. Riley reiterated a “neutral” rating on shares of XL Group in a research report on Monday, November 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $50.00 price target on shares of XL Group in a report on Thursday, September 21st. TheStreet cut shares of XL Group from a “b” rating to a “c” rating in a report on Tuesday, October 24th. Credit Suisse Group raised their price target on shares of XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Citigroup reduced their price target on shares of XL Group from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.50.

XL Group (XL) traded up $0.02 on Tuesday, hitting $34.23. 2,032,800 shares of the stock traded hands, compared to its average volume of 2,247,700. XL Group has a 52 week low of $33.77 and a 52 week high of $47.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $8,760.00, a PE ratio of -29.01, a PEG ratio of 1.06 and a beta of 1.00.

XL Group (NYSE:XL) last posted its quarterly earnings data on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $2.11 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. equities research analysts anticipate that XL Group will post -1.94 EPS for the current fiscal year.

In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $36.59, for a total value of $98,683.23. Following the transaction, the director now directly owns 66,455 shares of the company’s stock, valued at $2,431,588.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.02% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in XL. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of XL Group by 31.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,072,900 shares of the insurance provider’s stock valued at $673,526,000 after buying an additional 4,077,346 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of XL Group by 9,672.6% during the second quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock valued at $153,025,000 after purchasing an additional 3,457,972 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of XL Group by 49.2% during the third quarter. Russell Investments Group Ltd. now owns 3,557,080 shares of the insurance provider’s stock valued at $140,317,000 after purchasing an additional 1,173,380 shares in the last quarter. Boston Partners lifted its position in shares of XL Group by 25.8% during the third quarter. Boston Partners now owns 5,597,711 shares of the insurance provider’s stock valued at $220,830,000 after purchasing an additional 1,148,252 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of XL Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 8,783,932 shares of the insurance provider’s stock valued at $343,540,000 after purchasing an additional 925,470 shares in the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for XL Group (NYSE:XL)

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