XL Group Ltd (NYSE:XL)
September 4th, 2018
Amidst falling markets XL Group Ltd fell $0.07 Monday, down 0.12%, closing at $57.32. Despite the drop in price it hit a new 52 week high of $57.44. Two technical ‘scores’ for companies to be wary of are the Altman Z1 and the Piotroski2 scores. XL scored quite low for both, which could be indicators of trouble down the road (the Altman Z-Score is 0.36, and the Piotroski Score is 2).
XL was outperformed by the rest of the Financials sector which went up 0.53%.
XL Group Ltd is listed on the S&P 500 index, and was one of 271 stocks that fell today. Weighted by market cap, XL represents about 0.05% of the S&P 500.
XL Group Ltd Info
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. It also provides property and casualty products; insurance coverages for program administrators and managing general agents; mergers and acquisitions, and structured risk solutions; construction-related products and risk engineering services; and advanced loss of profits/delay in start-up, annual facilities for employers and contractors, commercial project builders, construction/contractors all risks, engineering/erection all risks, machinery breakdown, and other products. In addition, this segment offers aviation and satellite, marine, fine art and specie, private client, equine, livestock and aquaculture, energy, crisis management, political risk, credit and bond, London wholesale property and casualty, life, accident, and health products. The Reinsurance segment provides casualty reinsurance products, including general and professional liability, and automobile liability and workers’ compensation; property reinsurance products comprising property catastrophe, risk excess of loss, and proportional products; specialty reinsurance products, such as energy, marine, aviation, and space; and other reinsurance products that include fidelity, surety, trade credit, accident and health, mortgage, and political risk. It also writes whole account capital gearing quota share contracts on select syndicates at Lloyd’s. The company markets its products and services to the industrial, commercial, and professional firms; insurance companies; and other enterprises through international, national, and regional producers, acting as the brokers and representatives of policyholders. XL Group Ltd was founded in 1986 and is headquartered in Hamilton, Bermuda.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that XL Group Ltd’s score is 0.36) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
(2) The Piotrosky score is used to determine the best value stocks with nine being the best and zero being the worst. It is based on specific aspects of the company’s financial statements, such as positive net income, operating cash flow and asset turnover ratio. A score 0 0 is the worst (XL Group Ltd’s score is ), and 9 is the best.
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