41,009 Shares in Axis Capital Holdings Limited $AXS Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP bought a new stake in Axis Capital Holdings, acquiring 41,009 shares valued at about $4.39 million in the fourth quarter, according to its latest 13F filing.
• Axis Capital saw continued institutional interest, with multiple hedge funds adding positions and 93.44% of the stock now held by institutional investors. However, director Henry B. Smith sold 2,542 shares in May.
• The company posted better-than-expected quarterly EPS of $3.42 and also announced a quarterly dividend of $0.44 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $122.10.

Entropy Technologies LP acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,009 shares of the insurance provider's stock, valued at approximately $4,392,000. Entropy Technologies LP owned 0.05% of Axis Capital at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new stake in Axis Capital during the fourth quarter valued at approximately $30,000. Abich Financial Wealth Management LLC purchased a new stake in Axis Capital during the third quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac purchased a new stake in Axis Capital during the fourth quarter valued at approximately $47,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Axis Capital during the fourth quarter valued at approximately $51,000. Finally, Bayforest Capital Ltd purchased a new stake in Axis Capital during the fourth quarter valued at approximately $55,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the transaction, the director owned 46,347 shares of the company's stock, valued at $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AXS has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods decreased their price objective on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings downgraded Axis Capital from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 4th. Mizuho set a $137.00 price objective on Axis Capital in a research report on Monday, May 4th. Finally, Bank of America cut their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.10.

Axis Capital Trading Up 0.0%

AXS opened at $101.47 on Monday. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 3.10 and a beta of 0.51. The stock's 50 day moving average price is $99.32 and its 200-day moving average price is $101.79. Axis Capital Holdings Limited has a one year low of $88.07 and a one year high of $110.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65.

Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.33 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.17 earnings per share. On average, equities analysts forecast that Axis Capital Holdings Limited will post 13.25 EPS for the current year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.7%. Axis Capital's dividend payout ratio is 13.11%.

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.

Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axis Capital Holdings Limited (NYSE:AXS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.