Capital Asset Advisory Services LLC purchased a new stake in XL Group Ltd. (NYSE:XL) during the second quarter, Holdings Channel reports. The fund purchased 7,680 shares of the insurance provider’s stock, valued at approximately $339,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Partners LLC bought a new position in shares of XL Group during the first quarter worth about $218,000. Gotham Asset Management LLC bought a new position in shares of XL Group during the first quarter worth about $228,000. Columbia Partners L L C Investment Management bought a new position in shares of XL Group during the first quarter worth about $229,000. Two Sigma Securities LLC bought a new position in shares of XL Group during the first quarter worth about $244,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of XL Group during the fourth quarter worth about $231,000. 97.35% of the stock is owned by hedge funds and other institutional investors.
Shares of XL Group Ltd. (NYSE:XL) traded up 0.27% during mid-day trading on Monday, reaching $45.07. 532,140 shares of the company were exchanged. The company’s 50 day moving average price is $42.95 and its 200 day moving average price is $40.32. The firm has a market capitalization of $11.78 billion, a PE ratio of 21.67 and a beta of 1.02. XL Group Ltd. has a 12 month low of $31.97 and a 12 month high of $45.19.
XL Group (NYSE:XL) last announced its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. XL Group had a net margin of 5.25% and a return on equity of 3.71%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that XL Group Ltd. will post $3.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, June 13th. XL Group’s dividend payout ratio is 42.11%.
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XL has been the subject of a number of research analyst reports. Barclays PLC reaffirmed 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. BidaskClub raised shares of XL Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG increased their target price on shares of XL Group from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, April 28th. Morgan Stanley increased their target price on shares of XL Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Finally, Royal Bank of Canada increased their target price on shares of XL Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $43.70.
In other XL Group news, insider W Myron Hendry sold 85,050 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $42.12, for a total value of $3,582,306.00. Following the completion of the sale, the insider now directly owns 57,525 shares of the company’s stock, valued at $2,422,953. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles F.A. Cooper sold 18,500 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $42.33, for a total transaction of $783,105.00. Following the completion of the sale, the insider now directly owns 110,096 shares of the company’s stock, valued at $4,660,363.68. The disclosure for this sale can be found here. Insiders sold 180,250 shares of company stock valued at $7,631,446 over the last three months. Insiders own 2.59% 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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