Algert Global LLC Has $4.38 Million Stock Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Algert Global LLC reduced its holdings in Axis Capital Holdings Limited by 45% in Q1, now owning 43,724 shares valued at approximately $4.38 million.
• Axis Capital reported a Q2 EPS of $3.29, exceeding analysts' expectations of $2.88, and experienced a 12.6% year-over-year revenue increase.
• Analysts have a consensus rating of "Moderate Buy"** for Axis Capital, with a target price averaging around $111.43, following recent adjustments from multiple research firms.

Algert Global LLC cut its holdings in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 45.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,724 shares of the insurance provider's stock after selling 35,730 shares during the quarter. Algert Global LLC owned approximately 0.06% of Axis Capital worth $4,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. bought a new position in Axis Capital in the first quarter valued at about $33,000. IFP Advisors Inc boosted its holdings in Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after acquiring an additional 540 shares during the last quarter. Private Trust Co. NA boosted its holdings in Axis Capital by 36.9% in the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after acquiring an additional 319 shares during the last quarter. US Bancorp DE boosted its holdings in Axis Capital by 34.3% in the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after acquiring an additional 416 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Axis Capital by 14.9% in the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock valued at $186,000 after acquiring an additional 240 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Price Performance

Shares of AXS opened at $94.99 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a 1 year low of $74.27 and a 1 year high of $107.19. The stock has a market cap of $7.43 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.39 and a beta of 0.83. The stock's 50-day moving average price is $98.44 and its two-hundred day moving average price is $97.11.

Axis Capital (NYSE:AXS - Get Free Report) last issued its 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. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the business earned $2.93 earnings per share. The company's revenue was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on AXS. Cowen reiterated a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their price target on Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Finally, Wall Street Zen cut Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.43.

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.

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