Citigroup Raises XL Group (XL) Price Target to $43.00
XL Group (NYSE:XL) had its price objective lifted by equities research analysts at Citigroup from $40.00 to $43.00 in a report issued on Friday. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price target would suggest a potential upside of 2.72% from the company’s current price.
Several other brokerages have also recently weighed in on XL. Bank of America lowered their target price on XL Group from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, October 12th. Zacks Investment Research cut XL Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 13th. Deutsche Bank upgraded XL Group from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada restated a “buy” rating and set a $46.00 target price on shares of XL Group in a report on Friday, December 8th. Finally, ValuEngine cut XL Group from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.67.
XL Group (NYSE:XL) opened at $41.86 on Friday. The firm has a market capitalization of $10,560.00, a P/E ratio of -19.38, a PEG ratio of 1.25 and a beta of 0.95. XL Group has a twelve month low of $33.77 and a twelve month high of $47.27. The company has a current ratio of 0.08, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.
In other XL Group news, Director John Kcb Vereker sold 2,697 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $36.59, for a total value of $98,683.23. Following the sale, the director now owns 66,455 shares of the company’s stock, valued at $2,431,588.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Lee Cross sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $39.00, for a total value of $780,000.00. Following the completion of the sale, the insider now directly owns 58,688 shares in the company, valued at approximately $2,288,832. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,697 shares of company stock worth $4,493,383. Corporate insiders own 3.02% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new stake in XL Group in the fourth quarter valued at approximately $110,000. NuWave Investment Management LLC purchased a new stake in XL Group in the fourth quarter valued at approximately $163,000. Advisor Group Inc. raised its position in XL Group by 22.1% in the second quarter. Advisor Group Inc. now owns 4,122 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 747 shares during the period. Synovus Financial Corp purchased a new stake in XL Group in the third quarter valued at approximately $217,000. Finally, Stephens Inc. AR purchased a new stake in XL Group in the fourth quarter valued at approximately $223,000. 98.65% of the stock is currently owned by institutional investors.
XL Group Company 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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