Canada Pension Plan Investment Board Invests $2.86 Million in Axis Capital Holdings Limited $AXS

Key Points

• The Canada Pension Plan Investment Board acquired 28,500 shares of Axis Capital Holdings Limited (NYSE:AXS), valued at approximately $2.86 million, during the first quarter.
• Researchers predict Axis Capital will report 11.19 earnings per share for the current fiscal year, with analysts maintaining a consensus rating of "Moderate Buy."
• In recent transactions, insider Henry B. Smith sold 3,500 shares of Axis Capital, reflecting a 6.89% decrease in his holdings.

Canada Pension Plan Investment Board bought a new stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 28,500 shares of the insurance provider's stock, valued at approximately $2,857,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Axis Capital in the first quarter valued at about $33,000. IFP Advisors Inc grew 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 acquiring an additional 540 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Axis Capital by 36.9% during the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after acquiring an additional 319 shares during the last quarter. US Bancorp DE grew its stake in shares of Axis Capital by 34.3% during the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after acquiring an additional 416 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Axis Capital by 14.9% during the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Axis Capital Stock Performance

NYSE:AXS traded down $0.50 during trading hours on Tuesday, reaching $97.59. The company had a trading volume of 69,352 shares, compared to its average volume of 694,778. Axis Capital Holdings Limited has a 1-year low of $74.68 and a 1-year high of $107.19. The firm has a market cap of $7.63 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.77. The business's 50 day moving average price is $97.15 and its 200-day moving average price is $97.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cowen restated a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Wall Street Zen lowered Axis Capital from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company boosted their price target on Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, UBS Group reaffirmed a "buy" rating and set a $119.00 target price (up previously from $115.00) on shares of Axis Capital in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.43.

Insider Activity at Axis Capital

In other news, insider Daniel J. Draper sold 4,305 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the transaction, the insider directly owned 16,269 shares of the company's stock, valued at $1,587,366.33. This represents a 20.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Henry B. Smith sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total value of $345,345.00. Following the transaction, the director directly owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. The trade was a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,205 shares of company stock valued at $1,188,048. Corporate insiders own 0.70% of the company's stock.

About Axis Capital

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.