Concentric Capital Strategies LP Buys New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Concentric Capital Strategies LP purchased a new position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,053 shares of the insurance provider's stock, valued at approximately $4,702,000. Concentric Capital Strategies LP owned 0.06% of AXIS Capital as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its position in AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock valued at $30,070,000 after buying an additional 121,437 shares in the last quarter. Summit Trail Advisors LLC purchased a new position in AXIS Capital in the 4th quarter worth about $300,000. Merit Financial Group LLC purchased a new position in AXIS Capital in the 4th quarter worth about $549,000. Elevate Capital Advisors LLC bought a new stake in shares of AXIS Capital in the fourth quarter worth approximately $1,840,000. Finally, Tidal Investments LLC bought a new stake in shares of AXIS Capital in the third quarter worth approximately $1,004,000. Institutional investors own 93.44% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AXS shares. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Jefferies Financial Group upped their price objective on AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Thursday, May 1st. UBS Group boosted their price target on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, BMO Capital Markets started coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AXIS Capital currently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

AXIS Capital Trading Down 1.0%

Shares of NYSE AXS traded down $1.04 during midday trading on Monday, hitting $100.18. The company's stock had a trading volume of 116,608 shares, compared to its average volume of 594,600. AXIS Capital Holdings Limited has a 12-month low of $68.02 and a 12-month high of $107.00. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.88 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82. The business's 50 day moving average is $95.47 and its two-hundred day moving average is $91.37.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $0.53. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.07 earnings per share. As a group, equities research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were paid a dividend of $0.44 per share. The ex-dividend date was Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.76%. AXIS Capital's dividend payout ratio (DPR) is presently 17.46%.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. The trade was a 47.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.