State of Tennessee Treasury Department raised its stake in shares of XL Group Ltd. (NYSE:XL) by 70.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 123,490 shares of the insurance provider’s stock after buying an additional 51,105 shares during the period. State of Tennessee Treasury Department’s holdings in XL Group were worth $5,409,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of Nova Scotia raised its stake in shares of XL Group by 0.9% during the 1st quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock valued at $250,000 after buying an additional 54 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of XL Group by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock valued at $354,000 after buying an additional 79 shares during the last quarter. DnB Asset Management AS raised its stake in shares of XL Group by 0.7% during the 2nd quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock valued at $1,349,000 after buying an additional 200 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of XL Group by 1.1% during the 1st quarter. Great Lakes Advisors LLC now owns 22,911 shares of the insurance provider’s stock valued at $913,000 after buying an additional 241 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of XL Group by 1.8% during the 1st quarter. Shell Asset Management Co. now owns 17,212 shares of the insurance provider’s stock valued at $686,000 after buying an additional 299 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.
XL has been the topic of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $46.00 target price on shares of XL Group in a research report on Wednesday, July 12th. ValuEngine upgraded XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BidaskClub upgraded XL Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded XL Group from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Citigroup Inc. raised their target price on XL Group from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.50.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $44.55, for a total value of $135,565.65. Following the completion of the transaction, the director now directly owns 55,008 shares of the company’s stock, valued at $2,450,606.40. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.02% of the company’s stock.
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Shares of XL Group Ltd. (NYSE XL) opened at 38.61 on Monday. The firm has a market capitalization of $9.96 billion, a PE ratio of 12.63 and a beta of 1.01. The company has a 50-day moving average price of $43.22 and a 200 day moving average price of $42.31. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27.
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 Zacks’ 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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the company posted $0.37 earnings per share. On average, equities analysts expect that XL Group Ltd. will post $3.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. XL Group’s dividend payout ratio (DPR) is presently 28.57%.
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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