Trade Report: Today, XL Group PLC (XL) Research Coverage Started at Citigroup Inc.

Today, XL Group PLC (XL) Research Coverage Started at Citigroup Inc.

Citigroup Inc. initiated coverage on shares of XL Group PLC (NYSE:XL) in a research note issued to investors on Tuesday morning. The firm issued a neutral rating and a $39.00 price target on the stock.

Several other brokerages have also recently commented on XL. Janney Montgomery Scott cut shares of XL Group PLC from a buy rating to a neutral rating in a research report on Monday, September 12th. Langen Mcalenn cut shares of XL Group PLC from a buy rating to a neutral rating in a research report on Monday, September 12th. TheStreet upgraded shares of XL Group PLC from a hold rating to a buy rating in a research report on Tuesday, September 6th. Macquarie upped their price objective on shares of XL Group PLC from $38.00 to $40.00 and gave the stock an outperform rating in a research report on Monday, August 29th. Finally, Credit Suisse Group AG reiterated a hold rating and set a $37.00 price objective on shares of XL Group PLC in a research report on Monday, September 12th. One research analyst has 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 presently has a consensus rating of Hold and a consensus price target of $39.70.

Shares of XL Group PLC (NYSE:XL) opened at 37.01 on Tuesday. The firm has a 50-day moving average of $35.26 and a 200 day moving average of $33.97. XL Group PLC has a 12-month low of $30.33 and a 12-month high of $40.48. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 29.19 and a beta of 0.97.

XL Group PLC (NYSE:XL) last issued its earnings results on Wednesday, October 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.46 billion. XL Group PLC had a net margin of 3.55% and a return on equity of 3.86%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, equities research analysts expect that XL Group PLC will post $1.70 earnings per share for the current year.

The company also recently disclosed a special dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 15th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, December 13th. XL Group PLC’s dividend payout ratio is currently 65.04%.

Large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. raised its stake in XL Group PLC by 35.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 10,230 shares of the company’s stock worth $376,000 after buying an additional 2,670 shares in the last quarter. Arizona State Retirement System raised its stake in XL Group PLC by 0.3% in the first quarter. Arizona State Retirement System now owns 79,097 shares of the company’s stock worth $2,911,000 after buying an additional 200 shares in the last quarter. Royal Bank of Canada raised its stake in XL Group PLC by 45.0% in the first quarter. Royal Bank of Canada now owns 972,619 shares of the company’s stock worth $35,793,000 after buying an additional 301,828 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in XL Group PLC during the first quarter worth approximately $1,035,000. Finally, Boothbay Fund Management LLC purchased a new stake in XL Group PLC during the first quarter worth approximately $646,000. 92.31% of the stock is currently owned by institutional investors.

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