XL Group Ltd. (NYSE:XL)‘s stock had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They currently have a $50.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 28.11% from the company’s previous close.
A number of other research firms have also issued reports on XL. BidaskClub lowered shares of XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Buckingham Research started coverage on shares of XL Group in a report on Monday, September 11th. They set a “neutral” rating and a $42.00 target price for the company. Barclays PLC reaffirmed an “overweight” rating and set a $51.00 target price (up from $46.00) on shares of XL Group in a report on Monday, July 3rd. UBS AG cut their target price on shares of XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Zacks Investment Research lowered shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.36.
Shares of XL Group (NYSE:XL) opened at 39.03 on Thursday. XL Group has a 12 month low of $32.81 and a 12 month high of $47.27. The company’s 50-day moving average is $42.15 and its 200 day moving average is $42.28. The company has a market capitalization of $10.07 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. XL Group had a net margin of 7.53% and a return on equity of 4.88%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the firm posted $0.37 EPS. On average, equities research analysts anticipate 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 on Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the sale, the director now owns 55,008 shares of the company’s stock, valued at approximately $2,450,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.02% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in XL. BlackRock Inc. grew 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 valued at $753,345,000 after acquiring an additional 18,311,662 shares during the period. Janus Henderson Group PLC grew its stake in XL Group by 9,672.6% in the 2nd quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock valued at $153,025,000 after acquiring an additional 3,457,972 shares during the period. FIL Ltd grew 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 valued at $270,609,000 after acquiring an additional 3,214,457 shares during the period. O Shaughnessy Asset Management LLC grew its stake in XL Group by 5,927.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 939,043 shares of the insurance provider’s stock valued at $37,430,000 after acquiring an additional 923,464 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in XL Group by 100.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,795,831 shares of the insurance provider’s stock valued at $71,582,000 after acquiring an additional 901,177 shares during the period. 95.26% of the stock is currently owned by hedge funds and other institutional investors.
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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