Algert Global LLC Sells 7,557 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Algert Global LLC reduced its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,454 shares of the insurance provider's stock after selling 7,557 shares during the period. Algert Global LLC owned about 0.09% of AXIS Capital worth $7,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of AXIS Capital during the fourth quarter worth about $88,175,000. Norges Bank bought a new position in AXIS Capital in the 4th quarter worth $88,147,000. FIL Ltd bought a new stake in shares of AXIS Capital during the 4th quarter valued at about $43,893,000. Massachusetts Financial Services Co. MA bought a new position in AXIS Capital in the fourth quarter worth about $37,775,000. Finally, Swedbank AB purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $31,118,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

AXIS Capital Stock Performance

Shares of NYSE AXS traded up $0.48 during midday trading on Friday, hitting $101.23. 283,541 shares of the stock traded hands, compared to its average volume of 598,016. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital Holdings Limited has a one year low of $68.02 and a one year high of $102.15. The firm has a market capitalization of $7.96 billion, a P/E ratio of 8.20, a PEG ratio of 3.96 and a beta of 0.82. The firm has a 50-day moving average of $95.35 and a two-hundred day moving average of $91.10.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.53. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm posted $3.07 earnings per share. The business's revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were issued a dividend of $0.44 per share. The ex-dividend date was Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.74%. AXIS Capital's dividend payout ratio is currently 17.46%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXS. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price objective for the company. UBS Group lifted their price objective on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Jefferies Financial Group lifted their price target on AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of AXIS Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, AXIS Capital has a consensus rating of "Moderate Buy" and an average target price of $107.75.

AXIS Capital Profile

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.