Northern Trust Corp Grows Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Northern Trust Corp lifted its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,763 shares of the insurance provider's stock after acquiring an additional 71,553 shares during the period. Northern Trust Corp owned approximately 0.53% of AXIS Capital worth $39,060,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AXS. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital during the fourth quarter valued at approximately $53,000. EverSource Wealth Advisors LLC grew its position in shares of AXIS Capital by 73.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 285 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital in the fourth quarter worth $60,000. Assetmark Inc. purchased a new stake in shares of AXIS Capital in the fourth quarter worth $70,000. Finally, Venturi Wealth Management LLC grew its position in AXIS Capital by 28.5% during the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock worth $74,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insider Activity

In related news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now directly owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. This represents a 47.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

AXIS Capital Stock Down 0.7%

AXIS Capital stock traded down $0.66 on Tuesday, hitting $99.88. 501,470 shares of the stock traded hands, compared to its average volume of 594,767. AXIS Capital Holdings Limited has a 1 year low of $68.02 and a 1 year high of $102.36. The firm has a market cap of $7.86 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82. 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 business's fifty day simple moving average is $95.73 and its 200 day simple moving average is $91.58.

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

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were paid a $0.44 dividend. 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 is presently 17.46%.

Analysts Set New Price Targets

AXS has been the subject of a number of research analyst reports. UBS Group lifted their price target on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price target on the stock. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a report on Thursday, May 1st. Wells Fargo & Company upped their target price on shares of AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, 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 note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.