LONDON, March 4, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings analysis on XL Group PLC (NYSE: XL). On February 02, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL to read our free earnings review on XL GROUP Public Limited Company (XL Group). The company's total adjusted revenues came in at $1.66 billion for Q4 FY14 and $6.98 billion for FY14. CEO of XL Group, Mike McGavick, stated that the company delivered a very strong 2014 including continued progress in Insurance and an extraordinary year in Reinsurance. Many of the results achieved were the best in over fifteen years, including the company's property and casualty combined ratio of 88.2%, he added. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL
Earnings Overview
During Q4 FY14, XL Group's total adjusted revenues fell by $247.51 million from $1.91 billion in Q4 FY13. However, the company's Q4 FY14 total adjusted revenue outperformed Bloomberg analysts' expectations of $1.64 billion. XL Group's P&C (Property and Casualty) gross premiums written in Q4 FY14 increased 11.2% to $1.62 billion from $1.46 billion in Q4 FY13. Moreover, the company's P&C net premiums written increased by 11.7% Y-o-Y to $1.20 billion in Q4 FY14. The P&C combined ratio for Q4 FY14 was 84.5% compared to 93.3% in Q4 FY13. Free research on XL can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL
In Q4 FY14, XL Group's operating net income improved to $293.93 million, or $1.12 per diluted share, from $286.88 million, or $1.00 per diluted share, in Q4 FY13. The company reported net income attributable to ordinary shareholders of $139.50 million, or $0.53 per diluted share, in Q4 FY14 compared to $300.78 million, or $1.05 per diluted share, in Q4 FY13. Bloomberg analysts had expected net income attributable to ordinary shareholders of $229.67 million, or $0.90 per diluted share for the reported quarter.
During Q4 FY14, XL Group repurchased 5.2 million ordinary shares for $175.0 million at an average price of $33.82 per share, which was accretive to fully diluted tangible book value per ordinary share by $0.09. As of December 31, 2014, the company had $267.6 million of ordinary shares available for purchase under its share buyback program. Sign up and read the free analyst's notes on XL at:
http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL
In FY14, XL Group's total adjusted revenues declined $564.79 million from $7.54 billion in FY13. However, FY14 total adjusted revenues outperformed Bloomberg analysts' forecast of $6.83 billion. The company's FY14 net income attributable to ordinary shareholders stood at $188.34 million, or $0.69 per diluted share, compared to $1.06 billion, or $3.63 per diluted share, in FY13. Bloomberg analysts had expected FY14 net income attributable to ordinary shareholders of $311.14 million, or $1.00 per diluted share.
As of December 31, 2014, the company's fully diluted tangible book value per ordinary share came in at $36.79, an increase of $2.93, or 8.7%, from $33.86 as of December 31, 2013.
Mr. McGavick said that the insurance results included a 2014 combined ratio of 94.4%, the best performance since 2007, and a loss ratio of 63.2%. He also informed that reinsurance segment achieved a stellar 73.3% combined ratio, another one of its best performances. Visit Investor-Edge and access the latest research on XL at:
http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL
Stock Performance
On the day following the earnings release, February 03, 2015, XL Group's stock edged 0.20% lower finishing the session at $35.14. Since then, the stock has moved both ways with gains outperforming losses. However, on the last close, Tuesday, March 03, 2015, the company's shares ended 0.88% lower at $36.22. The company's shares vacillated between $36.05 and $36.52 during the session. A total of 3.15 million shares were traded which was above their three months average volume of 2.88 million shares. Over the last one month and previous three months, XL Group's shares have advanced 3.07% and 1.51%, respectively. Further, the stock has surged 20.29% over the past one year. Shares in the company closed above their 50-day and 200-day moving averages of $35.17 and $33.90, respectively.
Sneak Peek to Corporate Insider Trading
In the last one month, there were five corporate insider transactions done by five individuals. Between February 10, 2015 and February 28, 2015, a total of 27,409 shares have been disposed at an average price of $36.14 per share and for a total value of $990,474. The following are few of the abovementioned transactions: on February 10, 2015, John M. Vereker, Director at XL Group, sold 3,600 shares at an average price of $35.72 per share. On February 28, 2015, Gregory S. Hendrick, Executive Vice President and Chief Executive, Insurance Operations at XL Group, and Sarah E. Street, Executive Vice President and Chief Investment Officer, and Chief Executive Officer, XL Group Investments LLC, disposed 9,071 and 7,732 shares, respectively, at an average price of $36.20 per share. Complimentary in-depth research on XL is available at:
http://get.Investor-Edge.com/pdf/?c=XL%20Group&d=04-Mar-2015&s=XL
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