JPMorgan Chase & Co. cut its position in shares of XL Group Ltd. (NYSE:XL) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,034,458 shares of the insurance provider’s stock after selling 867,297 shares during the period. JPMorgan Chase & Co.’s holdings in XL Group were worth $320,253,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. FIL Ltd acquired a new position in shares of XL Group during the fourth quarter worth approximately $133,187,000. Norges Bank acquired a new position in shares of XL Group during the fourth quarter worth approximately $124,447,000. Russell Investments Group Ltd. acquired a new position in shares of XL Group during the fourth quarter worth approximately $70,541,000. NWQ Investment Management Company LLC acquired a new position in shares of XL Group during the fourth quarter worth approximately $46,488,000. Finally, Perkins Investment Management LLC increased its position in shares of XL Group by 23.3% in the third quarter. Perkins Investment Management LLC now owns 3,043,836 shares of the insurance provider’s stock worth $102,364,000 after buying an additional 574,427 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.
Shares of XL Group Ltd. (NYSE:XL) traded down 1.92% during mid-day trading on Friday, hitting $41.45. The stock had a trading volume of 1,925,202 shares. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 19.93 and a beta of 0.98. XL Group Ltd. has a one year low of $30.33 and a one year high of $43.52. The firm has a 50 day moving average of $41.17 and a 200 day moving average of $38.98.
XL Group (NYSE:XL) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. XL Group had a return on equity of 3.42% and a net margin of 4.18%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts forecast that XL Group Ltd. will post $3.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. XL Group’s dividend payout ratio (DPR) is presently 50.31%.
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XL has been the subject of a number of analyst reports. Citigroup Inc increased their price target on XL Group from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 7th. Sandler O’Neill downgraded XL Group from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a report on Monday, March 13th. Morgan Stanley increased their price target on XL Group from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Deutsche Bank AG increased their target price on XL Group from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Langen Mcalenn reaffirmed a “neutral” rating on shares of XL Group in a report on Monday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. XL Group currently has an average rating of “Hold” and a consensus target price of $42.40.
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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