Point72 Asset Management L.P. Increases Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Point72 Asset Management L.P. increased its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 463,794 shares of the insurance provider's stock after purchasing an additional 151,781 shares during the period. Point72 Asset Management L.P. owned approximately 0.55% of AXIS Capital worth $41,101,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital in the 4th quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $59,000 after acquiring an additional 285 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in AXIS Capital in the fourth quarter worth $60,000. Assetmark Inc. purchased a new position in AXIS Capital in the fourth quarter worth $70,000. Finally, Venturi Wealth Management LLC increased its stake in AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 185 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Trading Up 0.4%

AXIS Capital stock traded up $0.37 during trading hours on Monday, reaching $102.87. The company had a trading volume of 451,501 shares, compared to its average volume of 595,172. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a 12-month low of $68.02 and a 12-month high of $103.21. The company has a 50-day moving average price of $96.49 and a 200 day moving average price of $92.26. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 3.96 and a beta of 0.82.

AXIS Capital (NYSE:AXS - Get Free Report) last issued 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 net margin of 18.16% and a return on equity of 18.89%. The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the business earned $3.07 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital's dividend payout ratio (DPR) is currently 17.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group lifted their price target on AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Jefferies Financial Group boosted their target price 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 target price on AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company boosted 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.75.

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 2,404,133 shares of the company's stock, valued at $224,786,435.50. This trade represents a 47.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company's stock.

AXIS Capital Company 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.