Cerity Partners LLC Reduces Position in AXIS Capital Holdings Limited (NYSE:AXS)

Cerity Partners LLC cut its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 40.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,158 shares of the insurance provider's stock after selling 21,078 shares during the quarter. Cerity Partners LLC's holdings in AXIS Capital were worth $2,745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock worth $30,070,000 after acquiring an additional 121,437 shares during the last quarter. HighTower Advisors LLC acquired a new position in AXIS Capital during the 3rd quarter worth approximately $638,000. Geode Capital Management LLC raised its position in shares of AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock worth $100,921,000 after purchasing an additional 43,687 shares during the period. Summit Trail Advisors LLC acquired a new position in shares of AXIS Capital during the fourth quarter valued at about $300,000. Finally, Merit Financial Group LLC bought a new stake in AXIS Capital during the 4th quarter worth approximately $549,000. 93.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AXS has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $97.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Keefe, Bruyette & Woods lowered their price objective on AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price objective on the stock. Jefferies Financial Group raised their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.75.

AXIS Capital Stock Performance

NYSE AXS traded down $0.35 on Friday, reaching $94.60. 265,048 shares of the company's stock traded hands, compared to its average volume of 604,187. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 3.96 and a beta of 0.67. AXIS Capital Holdings Limited has a fifty-two week low of $60.64 and a fifty-two week high of $101.42. The stock has a 50 day moving average price of $94.11 and a 200-day moving average price of $89.43. 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 posted its quarterly earnings data 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%. Equities research analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.86%. AXIS Capital's payout ratio is 14.25%.

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.