Texas Permanent School Fund trimmed its position in XL Group Ltd. (NYSE:XL) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,891 shares of the insurance provider’s stock after selling 1,593 shares during the quarter. Texas Permanent School Fund’s holdings in XL Group were worth $2,457,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in XL. Advisor Group Inc. grew its stake in shares of XL Group by 22.1% during the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock worth $180,000 after buying an additional 747 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of XL Group during the third quarter worth $217,000. Achmea Investment Management B.V. bought a new stake in shares of XL Group during the third quarter worth $227,000. Koch Industries Inc. bought a new stake in shares of XL Group during the second quarter worth $304,000. Finally, FineMark National Bank & Trust bought a new stake in shares of XL Group during the third quarter worth $308,000. 98.65% of the stock is currently owned by institutional investors and hedge funds.
XL has been the topic of a number of research reports. Barclays reaffirmed a “buy” rating and set a $42.00 target price on shares of XL Group in a research note on Tuesday, January 9th. Zacks Investment Research lowered shares of XL Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 13th. Deutsche Bank lowered shares of XL Group from a “hold” rating to a “sell” rating and cut their price target for the stock from $42.00 to $37.00 in a report on Friday, October 13th. Royal Bank of Canada reiterated a “buy” rating and set a $46.00 price target on shares of XL Group in a report on Friday, December 8th. Finally, Bank of America cut their price target on shares of XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.50.
XL Group Ltd. (XL) opened at $37.68 on Tuesday. The company has a market cap of $9,793.30, a price-to-earnings ratio of -16.82, a PEG ratio of 1.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.08. XL Group Ltd. has a fifty-two week low of $33.77 and a fifty-two week high of $47.27.
XL Group (NYSE:XL) last issued its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.73 billion. XL Group had a negative net margin of 4.95% and a negative return on equity of 4.25%. During the same quarter in the previous year, the business earned $0.47 earnings per share. research analysts forecast that XL Group Ltd. will post 3.65 EPS for the current year.
In related news, Director John Kcb Vereker sold 2,697 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $36.59, for a total value of $98,683.23. Following the transaction, the director now owns 66,455 shares in the company, valued at $2,431,588.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.02% of the stock is owned by insiders.
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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).
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