Ameriprise Financial Inc. raised its position in XL Group Ltd. (NYSE:XL) by 17.6% during the third quarter, Holdings Channel reports. The firm owned 221,037 shares of the company’s stock after buying an additional 33,108 shares during the period. Ameriprise Financial Inc. owned 0.08% of XL Group worth $7,433,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of XL Group by 0.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,511 shares of the company’s stock worth $749,000 after buying an additional 118 shares during the period. Conning Inc. increased its position in shares of XL Group by 3.1% in the third quarter. Conning Inc. now owns 6,917 shares of the company’s stock worth $233,000 after buying an additional 210 shares during the period. TCW Group Inc. increased its position in shares of XL Group by 2.2% in the second quarter. TCW Group Inc. now owns 20,850 shares of the company’s stock worth $695,000 after buying an additional 450 shares during the period. Profund Advisors LLC increased its position in shares of XL Group by 8.1% in the second quarter. Profund Advisors LLC now owns 7,101 shares of the company’s stock worth $237,000 after buying an additional 530 shares during the period. Finally, First Mercantile Trust Co. increased its position in shares of XL Group by 7.8% in the third quarter. First Mercantile Trust Co. now owns 12,400 shares of the company’s stock worth $417,000 after buying an additional 900 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
XL Group Ltd. (NYSE:XL) traded down 0.42% during mid-day trading on Friday, reaching $37.81. The company had a trading volume of 770,638 shares. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 29.82 and a beta of 0.96. XL Group Ltd. has a 12-month low of $30.33 and a 12-month high of $38.64. The firm has a 50-day moving average price of $37.33 and a 200 day moving average price of $35.16.
XL Group (NYSE:XL) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The company earned $2.13 billion during the quarter, compared to the consensus estimate of $2.46 billion. XL Group had a net margin of 3.55% and a return on equity of 3.86%. XL Group’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Analysts expect that XL Group Ltd. will post $1.52 EPS for the current year.
The company also recently declared a special dividend, which was paid on Monday, January 2nd. Shareholders of record on Thursday, December 15th were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 13th. XL Group’s payout ratio is 65.04%.
Several equities research analysts recently issued reports on the company. Citigroup Inc. assumed coverage on XL Group in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $39.00 price target for the company. Barclays PLC restated a “buy” rating and set a $42.00 price objective on shares of XL Group in a research report on Monday, January 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. XL Group currently has an average rating of “Hold” and a consensus target price of $40.00.
In other XL Group news, CEO Michael S. Mcgavick sold 91,000 shares of the firm’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $38.00, for a total value of $3,458,000.00. Following the completion of the transaction, the chief executive officer now directly owns 331,423 shares of the company’s stock, valued at approximately $12,594,074. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Mcgavick sold 126,928 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $38.00, for a total transaction of $4,823,264.00. Following the completion of the transaction, the chief executive officer now directly owns 367,351 shares of the company’s stock, valued at $13,959,338. The disclosure for this sale can be found here. Over the last three months, insiders sold 712,000 shares of company stock valued at $27,103,526. 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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