XL Group Ltd. (NYSE:XL) had its price objective decreased by investment analysts at UBS AG from $48.00 to $46.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the insurance provider’s stock. UBS AG’s target price indicates a potential upside of 17.86% from the company’s current price.
A number of other analysts also recently weighed in on XL. BidaskClub raised shares of XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC reissued an “overweight” rating and set a $51.00 price target (up previously from $46.00) on shares of XL Group in a research report on Monday, July 3rd. Morgan Stanley reissued an “overweight” rating and set a $50.00 price target (up previously from $46.00) on shares of XL Group in a research report on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 price target on shares of XL Group in a research report on Wednesday, July 12th. Finally, Citigroup Inc. lifted their price objective on shares of XL Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $46.00.
XL Group (NYSE XL) opened at 39.03 on Tuesday. The company has a 50 day moving average of $42.15 and a 200-day moving average of $42.28. XL Group has a one year low of $32.81 and a one year high of $47.27. The firm has a market cap of $10.07 billion, a PE ratio of 12.76 and a beta of 1.01.
XL Group (NYSE:XL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $0.37 earnings per share. On average, equities research analysts predict that XL Group will post $3.28 earnings per share for the current year.
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In related news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $44.55, for a total transaction of $135,565.65. Following the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.02% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in XL. Vanguard Group Inc. increased its stake in XL Group by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 25,841,471 shares of the insurance provider’s stock worth $1,131,856,000 after purchasing an additional 288,860 shares in the last quarter. Wellington Management Group LLP increased its stake in XL Group by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 19,803,140 shares of the insurance provider’s stock worth $789,353,000 after purchasing an additional 218,230 shares in the last quarter. BlackRock Inc. increased its stake in XL Group by 3,113.6% in the 1st quarter. BlackRock Inc. now owns 18,899,779 shares of the insurance provider’s stock worth $753,345,000 after purchasing an additional 18,311,662 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in XL Group by 2.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,030,277 shares of the insurance provider’s stock worth $559,246,000 after purchasing an additional 384,760 shares in the last quarter. Finally, FIL Ltd increased its stake in XL Group by 89.9% in the 1st quarter. FIL Ltd now owns 6,788,978 shares of the insurance provider’s stock worth $270,609,000 after purchasing an additional 3,214,457 shares in the last quarter. 95.26% of the stock is currently owned by hedge funds and other institutional investors.
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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