XL Group Ltd. (NYSE:XL) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 17,236,012 shares, an increase of 35.8% from the October 13th total of 12,692,008 shares. Based on an average trading volume of 3,186,583 shares, the short-interest ratio is currently 5.4 days. Approximately 6.8% of the shares of the company are short sold.
Several equities research analysts have recently issued reports on the stock. B. Riley restated a “neutral” rating on shares of XL Group in a research note on Monday, November 6th. Citigroup Inc. raised their price objective on shares of XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. UBS AG raised their price objective on shares of XL Group from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. TheStreet downgraded shares of XL Group from a “b” rating to a “c” rating in a research note on Tuesday, October 24th. Finally, Credit Suisse Group AG raised their price objective on shares of XL Group from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.50.
Shares of XL Group (XL) opened at $39.00 on Wednesday. XL Group has a 52 week low of $35.70 and a 52 week high of $47.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.28.
XL Group (NYSE:XL) last posted its quarterly earnings results on Tuesday, October 24th. The insurance provider reported ($4.00) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. analysts forecast that XL Group will post -1.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. XL Group’s dividend payout ratio is presently -74.58%.
Several large investors have recently modified their holdings of XL. IFP Advisors Inc boosted its stake in shares of XL Group by 19.9% in the 2nd quarter. IFP Advisors Inc now owns 2,317 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 384 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of XL Group in the 2nd quarter valued at $120,000. Advisor Group Inc. boosted its stake in shares of XL Group by 22.1% in the 2nd quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 747 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of XL Group in the 2nd quarter valued at $192,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of XL Group in the 2nd quarter valued at $202,000. Institutional investors own 97.44% of the company’s stock.
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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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