Shares of XL Group plc (XL) Sees Large Outflow of Money

XL Group plc (XL) : The total negative money flow of $1.16 million on Tuesday indicates selling on strength. The inflow of money on upticks was $4.33 million, compared to $5.48 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.79. The negative money flow of $1.53 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $1.53 million. The price action in the XL Group plc (XL) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $34.08 with a gain of $0.23 , a change of 0.67% over the previous days close. The stock registered 1.72% for the week.


Also, Equity Analysts at the Brokerage Firm, Deutsche Bank, maintains their rating on the shares of XL Group plc (NYSE:XL). Deutsche Bank has a Hold rating on the shares. As per the latest research report, the brokerage house raises the price target to $37 per share from a prior target of $34. The rating by the firm was issued on July 28, 2016.

Shares of XL Group Ltd rose by 1.55% in the last five trading days and 0.18% for the last 4 weeks. XL Group Ltd is up 0.94% in the last 3-month period. Year-to-Date the stock performance stands at -11.3%.

XL Group plc (NYSE:XL): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.93 and $33.93 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.14, notching a gain of 0.86% for the day. The total traded volume was 1,793,026 . The stock had closed at $33.85 on the previous day.

In a related news, Whelley Eileen Goss, officer (Chief Human Resource Officer) of Xl Group Plc, executed a transaction worth $48,450 on May 3, 2016. A total of 1,500 shares were purchased at an average price of $32.3. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

XL Group plc, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. The Company is organized into two operating segments: Insurance and Reinsurance. The Companys insurance operations are organized into four business groups: International Property and Casualty, North America Property and Casualty, Global Professional Lines and Global Specialty Lines. Its insurance operations provide customized insurance policies for complex corporate risks that may require large limits and are marketed and distributed through a wide variety of local, national and international producers. The Companys reinsurance operations are structured geographically into business groups: Bermuda, North America and International (Europe, Asia Pacific, Latin America and Middle East North Africa (MENA)).

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.