Caisse DE Depot ET Placement DU Quebec reduced its position in XL Group Ltd (NYSE:XL) by 14.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,846 shares of the insurance provider’s stock after selling 8,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in XL Group were worth $2,789,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new position in shares of XL Group during the second quarter worth about $167,000. Cerebellum GP LLC acquired a new position in shares of XL Group during the second quarter worth about $185,000. Mount Yale Investment Advisors LLC acquired a new position in shares of XL Group during the first quarter worth about $243,000. Cambria Investment Management L.P. acquired a new position in shares of XL Group during the second quarter worth about $256,000. Finally, Mcdonald Capital Investors Inc. CA acquired a new position in shares of XL Group during the second quarter worth about $302,000. 78.52% of the stock is owned by institutional investors.
Shares of XL Group stock traded up $0.22 on Friday, reaching $57.59. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of -28.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. XL Group Ltd has a 52-week low of $33.77 and a 52-week high of $57.60.
XL Group (NYSE:XL) last announced its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.06). The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. XL Group had a negative net margin of 4.67% and a negative return on equity of 4.21%. On average, sell-side analysts forecast that XL Group Ltd will post 3.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, September 13th. XL Group’s dividend payout ratio (DPR) is -43.78%.
Separately, Zacks Investment Research raised XL Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. XL Group presently has a consensus rating of “Hold” and an average price target of $46.83.
XL Group Company Profile
XL Group Ltd, through its subsidiaries, operates as an insurance and reinsurance company worldwide. The company's Insurance segment offers primary and excess casualty, environmental liability, professional liability, property, excess and surplus lines, U.S. program/facilities, and construction business products.
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