Private Management Group Inc. Cuts Holdings in XL Group Ltd. (XL)

Private Management Group Inc. cut its position in XL Group Ltd. (NYSE:XL) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 997,080 shares of the insurance provider’s stock after selling 2,664 shares during the quarter. XL Group accounts for 2.1% of Private Management Group Inc.’s holdings, making the stock its 9th largest holding. Private Management Group Inc. owned approximately 0.39% of XL Group worth $39,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of XL. Janus Henderson Group PLC lifted its holdings in XL Group by 9,672.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,493,722 shares of the insurance provider’s stock worth $153,025,000 after buying an additional 3,457,972 shares during the last quarter. Boston Partners lifted its holdings in XL Group by 25.8% during the 3rd quarter. Boston Partners now owns 5,597,711 shares of the insurance provider’s stock worth $220,830,000 after buying an additional 1,148,252 shares during the last quarter. Numeric Investors LLC lifted its holdings in XL Group by 108.0% during the 2nd quarter. Numeric Investors LLC now owns 1,448,295 shares of the insurance provider’s stock worth $63,435,000 after buying an additional 752,100 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in XL Group by 122.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,042,682 shares of the insurance provider’s stock worth $45,668,000 after buying an additional 574,914 shares during the last quarter. Finally, Rothschild Asset Management Inc. lifted its holdings in XL Group by 4,962.0% during the 2nd quarter. Rothschild Asset Management Inc. now owns 580,261 shares of the insurance provider’s stock worth $25,416,000 after buying an additional 568,798 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

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Shares of XL Group Ltd. (NYSE XL) traded down $0.40 during trading on Wednesday, hitting $39.00. The company’s stock had a trading volume of 2,205,400 shares, compared to its average volume of 1,926,073. XL Group Ltd. has a one year low of $35.70 and a one year high of $47.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.35.

XL Group (NYSE:XL) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.91) by ($0.09). XL Group had a negative return on equity of 4.03% and a negative net margin of 2.51%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts expect that XL Group Ltd. will post -1.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, December 14th. XL Group’s dividend payout ratio is presently -71.54%.

XL has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $50.00 target price on shares of XL Group in a report on Thursday, September 21st. UBS AG reduced their target price on XL Group from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $53.00 target price on shares of XL Group in a report on Tuesday, August 29th. ValuEngine raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub downgraded XL Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.50.

XL Group 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).

Institutional Ownership by Quarter for XL Group (NYSE:XL)

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