Engineers Gate Manager LP raised its holdings in XL Group Ltd. (NYSE:XL) by 415.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,247 shares of the insurance provider’s stock after buying an additional 19,544 shares during the quarter. Engineers Gate Manager LP’s holdings in XL Group were worth $957,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in XL Group by 36.1% in the third quarter. Meeder Asset Management Inc. now owns 14,181 shares of the insurance provider’s stock valued at $559,000 after buying an additional 3,759 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of XL Group in the second quarter valued at about $928,000. Marshall Wace North America L.P. increased its holdings in shares of XL Group by 28.0% in the second quarter. Marshall Wace North America L.P. now owns 75,567 shares of the insurance provider’s stock valued at $3,325,000 after purchasing an additional 16,513 shares during the period. Nomura Holdings Inc. increased its holdings in shares of XL Group by 114.1% in the second quarter. Nomura Holdings Inc. now owns 37,848 shares of the insurance provider’s stock valued at $1,659,000 after purchasing an additional 20,174 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of XL Group by 754.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 67,586 shares of the insurance provider’s stock valued at $2,961,000 after purchasing an additional 59,675 shares during the period. Institutional investors own 99.06% of the company’s stock.
A number of research analysts have recently weighed in on the company. Deutsche Bank lowered XL Group from a “hold” rating to a “sell” rating and cut their price objective for the company from $42.00 to $37.00 in a report on Friday, October 13th. BidaskClub lowered XL Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Citigroup cut their price objective on XL Group from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. Barclays cut their price objective on XL Group from $51.00 to $47.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Finally, TheStreet lowered XL Group from a “b” rating to a “c” rating in a report on Tuesday, October 24th. Three 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 presently has an average rating of “Hold” and a consensus target price of $44.92.
XL Group Ltd. (XL) traded down $0.93 during trading on Thursday, reaching $36.10. The company had a trading volume of 1,923,000 shares, compared to its average volume of 1,933,164. XL Group Ltd. has a 12-month low of $36.02 and a 12-month high of $47.27. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.
XL Group (NYSE:XL) last posted its earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) EPS for the quarter, missing the consensus estimate of ($3.91) by ($0.09). The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.11 billion. XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. research analysts anticipate that XL Group Ltd. will post -1.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.44%. The ex-dividend date is Thursday, December 14th. XL Group’s dividend payout ratio (DPR) is -71.54%.
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XL Group 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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