XL Group Ltd. (NYSE:XL) had its price target cut by equities researchers at Bank of America Corporation from $49.00 to $47.00 in a report issued on Thursday. The brokerage presently has a “buy” rating on the insurance provider’s stock. Bank of America Corporation’s price objective points to a potential upside of 19.44% from the company’s current price.
XL has been the topic of several other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective (up from $46.00) on shares of XL Group in a research note on Friday, July 7th. Barclays PLC reissued an “overweight” rating and set a $51.00 price target (up from $46.00) on shares of XL Group in a research note on Monday, July 3rd. UBS AG decreased their price target on shares of XL Group from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Buckingham Research initiated coverage on shares of XL Group in a research note on Monday, September 11th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Zacks Investment Research cut shares of XL Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $45.83.
Shares of XL Group (NYSE XL) traded up 1.970% during trading on Thursday, hitting $40.125. The stock had a trading volume of 1,072,561 shares. The stock’s 50-day moving average price is $39.82 and its 200 day moving average price is $42.17. XL Group has a one year low of $33.22 and a one year high of $47.27. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 13.121 and a beta of 1.00.
XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.08. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. XL Group had a net margin of 7.53% and a return on equity of 4.88%. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, equities analysts forecast that XL Group will post $1.18 EPS for the current year.
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In other XL Group news, Director Joseph Mauriello sold 3,043 shares of the 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 directly owns 55,008 shares in the company, valued at $2,450,606.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.02% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Portformulas Corp acquired a new stake in XL Group in the second quarter worth $3,574,000. Toronto Dominion Bank raised its holdings in shares of XL Group by 23.8% during the second quarter. Toronto Dominion Bank now owns 88,610 shares of the insurance provider’s stock worth $3,881,000 after acquiring an additional 17,030 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of XL Group during the second quarter worth $937,000. Koch Industries Inc. acquired a new stake in shares of XL Group during the second quarter worth $304,000. Finally, Nomura Holdings Inc. raised its holdings in shares of XL Group by 114.1% during the second quarter. Nomura Holdings Inc. now owns 37,848 shares of the insurance provider’s stock worth $1,659,000 after acquiring an additional 20,174 shares during the period. Institutional investors own 95.26% of the company’s stock.
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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