Aberdeen Asset Management PLC UK cut its holdings in XL Group Ltd. (NYSE:XL) by 61.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,734 shares of the insurance provider’s stock after selling 134,139 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in XL Group were worth $3,667,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its stake in XL Group by 0.9% in the first quarter. Bank of Nova Scotia now owns 6,275 shares of the insurance provider’s stock worth $250,000 after acquiring an additional 54 shares during the period. Mackenzie Financial Corp lifted its stake in XL Group by 0.9% in the first quarter. Mackenzie Financial Corp now owns 8,881 shares of the insurance provider’s stock worth $354,000 after acquiring an additional 79 shares during the period. DnB Asset Management AS lifted its stake in XL Group by 0.7% in the second quarter. DnB Asset Management AS now owns 30,810 shares of the insurance provider’s stock worth $1,349,000 after acquiring an additional 200 shares during the period. Great Lakes Advisors LLC lifted its stake in XL Group by 1.1% in the first quarter. Great Lakes Advisors LLC now owns 22,911 shares of the insurance provider’s stock worth $913,000 after acquiring an additional 241 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in XL Group by 2.6% in the first quarter. Canada Pension Plan Investment Board now owns 11,924 shares of the insurance provider’s stock worth $475,000 after acquiring an additional 300 shares during the period. 95.27% of the stock is owned by institutional investors.
A number of brokerages have commented on XL. BidaskClub downgraded shares of XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Buckingham Research began coverage on shares of XL Group in a report on Monday, September 11th. They issued a “neutral” rating and a $42.00 target price for the company. Barclays PLC reiterated an “overweight” rating and issued a $51.00 target price (up from $46.00) on shares of XL Group in a report on Monday, July 3rd. Zacks Investment Research downgraded shares of XL Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $50.00 target price (up from $46.00) on shares of XL Group in a report on Friday, July 7th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.00.
XL Group Ltd. (NYSE XL) opened at 39.37 on Friday. The firm has a market cap of $10.16 billion, a P/E ratio of 12.87 and a beta of 1.01. XL Group Ltd. has a 12-month low of $32.81 and a 12-month high of $47.27. The stock’s 50 day moving average is $42.42 and its 200 day moving average is $42.28.
XL Group (NYSE:XL) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. XL Group had a return on equity of 4.88% and a net margin of 7.53%. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts expect that XL Group Ltd. will post $3.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, September 14th. XL Group’s dividend payout ratio (DPR) is 28.57%.
In other XL Group news, Director Joseph Mauriello sold 3,043 shares of XL Group stock in a transaction that occurred on 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 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 at this link. Insiders own 3.02% of the company’s stock.
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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