Mackenzie Financial Corp Acquires 79 Shares of XL Group Ltd. (XL)

Mackenzie Financial Corp increased its position in shares of XL Group Ltd. (NYSE:XL) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 8,881 shares of the insurance provider’s stock after buying an additional 79 shares during the period. Mackenzie Financial Corp’s holdings in XL Group were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XL. Advisor Partners LLC bought a new position in shares of XL Group during the first quarter worth about $218,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of XL Group during the fourth quarter worth about $231,000. Meiji Yasuda Life Insurance Co bought a new position in shares of XL Group during the first quarter worth about $283,000. Suntrust Banks Inc. bought a new position in shares of XL Group during the first quarter worth about $314,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of XL Group during the first quarter worth about $319,000. 97.71% of the stock is owned by institutional investors.

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

Shares of XL Group Ltd. (NYSE XL) traded up 0.25% during mid-day trading on Friday, hitting $43.38. The company had a trading volume of 291,427 shares. XL Group Ltd. has a 12 month low of $30.33 and a 12 month high of $44.39. The firm has a 50-day moving average price of $42.61 and a 200 day moving average price of $40.00. The firm has a market capitalization of $11.34 billion, a P/E ratio of 20.86 and a beta of 1.01.

XL Group (NYSE:XL) last issued its quarterly earnings data on Wednesday, April 26th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.93 billion. XL Group had a return on equity of 3.71% and a net margin of 5.25%. XL Group’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities research analysts forecast that XL Group Ltd. will post $3.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.88 annualized dividend and a yield of 2.03%. XL Group’s dividend payout ratio is presently 42.11%.

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A number of research analysts have issued reports on the company. Morgan Stanley boosted 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. 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. Royal Bank Of Canada boosted their price target on XL Group from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. BidaskClub raised XL Group from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Credit Suisse Group set a $40.00 price target on XL Group and gave the company a “hold” rating in a report on Saturday, March 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. XL Group presently has a consensus rating of “Hold” and a consensus target price of $42.40.

In related news, Director Anne Stevens sold 1,700 shares of XL Group stock in a transaction on Friday, May 26th. The stock was sold at an average price of $43.55, for a total transaction of $74,035.00. Following the completion of the transaction, the director now directly owns 13,710 shares of the company’s stock, valued at $597,070.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider W Myron Hendry sold 85,050 shares of XL Group stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $42.12, for a total value of $3,582,306.00. Following the transaction, the insider now directly owns 57,525 shares of the company’s stock, valued at $2,422,953. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,250 shares of company stock valued at $7,631,446. 2.59% of the stock is currently owned by insiders.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “XL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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