Envestnet Asset Management Inc. Buys 5,624 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Envestnet Asset Management Inc. raised its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 7.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 79,653 shares of the insurance provider's stock after acquiring an additional 5,624 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of AXIS Capital worth $7,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in AXIS Capital in the fourth quarter valued at approximately $88,175,000. Norges Bank bought a new stake in shares of AXIS Capital in the 4th quarter valued at $88,147,000. Massachusetts Financial Services Co. MA acquired a new stake in AXIS Capital during the 4th quarter worth $37,775,000. Swedbank AB bought a new position in AXIS Capital during the fourth quarter worth about $31,118,000. Finally, Principal Financial Group Inc. increased its holdings in shares of AXIS Capital by 7,053.2% in the fourth quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider's stock worth $31,366,000 after acquiring an additional 348,993 shares in the last quarter. Institutional investors own 93.44% of the company's stock.

Insider Buying and Selling

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. UBS Group upped their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.75.

AXIS Capital Stock Down 1.7 %

NYSE AXS traded down $1.65 during trading hours on Friday, hitting $93.99. 108,152 shares of the company traded hands, compared to its average volume of 600,038. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 3.96 and a beta of 0.67. AXIS Capital Holdings Limited has a twelve month low of $60.64 and a twelve month high of $101.42. The business's 50-day moving average is $94.55 and its 200-day moving average is $89.93. 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 (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Sell-side analysts anticipate 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. Investors 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 yield of 1.87%. AXIS Capital's dividend payout ratio (DPR) is currently 14.25%.

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.