Daiwa Securities Group Inc. boosted its stake in shares of XL Group Ltd. (NYSE:XL) by 59.4% during the second quarter, Holdings Channel reports. The firm owned 28,050 shares of the insurance provider’s stock after buying an additional 10,450 shares during the period. Daiwa Securities Group Inc.’s holdings in XL Group were worth $1,229,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of XL Group by 26.6% in the first quarter. Nationwide Fund Advisors now owns 578,099 shares of the insurance provider’s stock valued at $23,043,000 after buying an additional 121,481 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of XL Group by 19.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,291 shares of the insurance provider’s stock valued at $928,000 after buying an additional 3,773 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of XL Group during the first quarter valued at $621,000. Boys Arnold & Co. Inc. increased its stake in shares of XL Group by 32.6% in the first quarter. Boys Arnold & Co. Inc. now owns 10,575 shares of the insurance provider’s stock valued at $422,000 after buying an additional 2,600 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of XL Group by 3.2% in the first quarter. Nisa Investment Advisors LLC now owns 23,920 shares of the insurance provider’s stock valued at $953,000 after buying an additional 735 shares during the period. Institutional investors own 98.84% of the company’s stock.
XL Group Ltd. (NYSE:XL) opened at 44.50 on Friday. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27. The firm has a 50 day moving average of $44.71 and a 200-day moving average of $41.86. The stock has a market cap of $11.48 billion, a PE ratio of 14.55 and a beta of 1.02.
XL Group (NYSE:XL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the business posted $0.37 EPS. On average, analysts expect that XL Group Ltd. will post $3.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 14th. XL Group’s payout ratio is 28.57%.
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Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of XL Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Citigroup Inc. raised their target price on shares of XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. BidaskClub upgraded shares of XL Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $46.00 target price on shares of XL Group in a research note on Wednesday, July 12th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. XL Group currently has an average rating of “Buy” and an average target price of $44.90.
In related news, insider W Myron Hendry sold 85,050 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total transaction of $3,582,306.00. Following the completion of the sale, the insider now owns 57,525 shares in the company, valued at approximately $2,422,953. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne Stevens sold 1,700 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $43.55, for a total transaction of $74,035.00. Following the sale, the director now owns 13,710 shares of the company’s stock, valued at approximately $597,070.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,293 shares of company stock valued at $7,767,012. Company insiders own 2.59% of the company’s stock.
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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