Insider Selling: Axis Capital (NYSE:AXS) Insider Sells 2,200 Shares of Stock

Key Points

• Daniel Draper, an insider at Axis Capital, sold 2,200 shares of the company’s stock for $211,464, resulting in an 8.81% decrease in his ownership.
• Axis Capital reported earnings of $3.29 per share for the last quarter, exceeding analyst expectations of $2.88, although revenue fell short of forecasts.
• Recent analyst upgrades for Axis Capital include a price target increase to $121.00 from Keefe, Bruyette & Woods, and to $119.00 from UBS Group, indicating a positive outlook for the stock.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report) insider Daniel J. Draper sold 2,200 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $96.12, for a total value of $211,464.00. Following the completion of the sale, the insider owned 22,774 shares of the company's stock, valued at $2,189,036.88. The trade was a 8.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Axis Capital Trading Up 0.3%

AXS traded up $0.2550 during trading on Friday, hitting $99.2150. 504,643 shares of the stock were exchanged, compared to its average volume of 718,542. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50 day simple moving average of $98.12 and a 200 day simple moving average of $97.26. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 1.45 and a beta of 0.83. Axis Capital Holdings Limited has a 1 year low of $74.68 and a 1 year high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.41. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.68 billion. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%.The business's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 EPS. As a group, equities analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group reissued a "buy" rating and set a $119.00 target price (up previously from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $111.43.

Institutional Trading of Axis Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smithfield Trust Co raised its stake in Axis Capital by 94.0% in the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider's stock valued at $31,000 after buying an additional 142 shares during the last quarter. NBC Securities Inc. purchased a new stake in Axis Capital during the 1st quarter worth approximately $33,000. AlphaCore Capital LLC purchased a new stake in Axis Capital during the 2nd quarter worth approximately $37,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Axis Capital in the second quarter worth $41,000. Finally, IFP Advisors Inc lifted its stake in shares of Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after buying an additional 540 shares during the period. Hedge funds and other institutional investors own 93.44% 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.