Published On: Mon, Sep 12th, 2016

XL Group PLC (XL) Stock Rating Reaffirmed by Credit Suisse Group AG

XL Group PLC (NYSE:XL)‘s stock had its “hold” rating restated by investment analysts at Credit Suisse Group AG in a report issued on Monday. They presently have a $37.00 target price on the stock. Credit Suisse Group AG’s price target points to a potential upside of 7.90% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Janney Montgomery Scott lowered XL Group PLC from a “buy” rating to a “neutral” rating in a research note on Monday. TheStreet upgraded XL Group PLC from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Macquarie increased their price target on XL Group PLC from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, August 29th. Keefe, Bruyette & Woods upgraded XL Group PLC from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $42.00 to $44.00 in a report on Thursday, August 25th. Finally, Deutsche Bank AG increased their price target on XL Group PLC from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. XL Group PLC has an average rating of “Hold” and an average target price of $40.20.
Shares of XL Group PLC (NYSE:XL) traded down 1.66% during trading on Monday, hitting $33.72. The stock had a trading volume of 848,218 shares. XL Group PLC has a 52-week low of $30.33 and a 52-week high of $40.48. The stock has a 50 day moving average of $33.88 and a 200 day moving average of $34.25. The firm has a market cap of $9.27 billion, a PE ratio of 31.11 and a beta of 1.09.

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XL Group PLC (NYSE:XL) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.23. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.40 billion. XL Group PLC had a return on equity of 3.47% and a net margin of 3.12%. The business’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, equities analysts anticipate that XL Group PLC will post $1.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.33%. XL Group PLC’s payout ratio is 74.77%.
Several hedge funds have recently added to or reduced their stakes in XL. Wellington Management Group LLP raised its position in shares of XL Group PLC by 6.8% in the first quarter. Wellington Management Group LLP now owns 15,996,477 shares of the company’s stock worth $588,671,000 after buying an additional 1,024,540 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of XL Group PLC by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,612,952 shares of the company’s stock worth $316,957,000 after buying an additional 223,149 shares during the period. Norges Bank purchased a new position in shares of XL Group PLC during the fourth quarter worth $131,093,000. BlackRock Group LTD raised its position in shares of XL Group PLC by 2.6% in the first quarter. BlackRock Group LTD now owns 3,296,742 shares of the company’s stock worth $121,320,000 after buying an additional 84,616 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of XL Group PLC by 0.4% in the first quarter. Geode Capital Management LLC now owns 2,389,729 shares of the company’s stock worth $87,766,000 after buying an additional 9,507 shares during the period. 91.43% of the stock is owned by institutional investors.
About XL Group PLC
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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