Allianz Asset Management GmbH Purchases 72,500 Shares of Axis Capital Holdings Limited (NYSE:AXS)

Allianz Asset Management GmbH lifted its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 36.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,234 shares of the insurance provider's stock after purchasing an additional 72,500 shares during the period. Allianz Asset Management GmbH owned 0.34% of Axis Capital worth $27,188,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AXS. Norges Bank bought a new position in shares of Axis Capital in the fourth quarter worth about $88,147,000. FIL Ltd bought a new position in shares of Axis Capital during the 4th quarter valued at approximately $43,893,000. Massachusetts Financial Services Co. MA purchased a new stake in Axis Capital in the 4th quarter worth approximately $37,775,000. Causeway Capital Management LLC raised its stake in Axis Capital by 79.1% during the 4th quarter. Causeway Capital Management LLC now owns 728,331 shares of the insurance provider's stock worth $64,545,000 after acquiring an additional 321,608 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in Axis Capital during the first quarter valued at approximately $26,499,000. 93.44% of the stock is owned by institutional investors.

Axis Capital Stock Up 1.0%

Shares of Axis Capital stock traded up $0.98 during trading on Friday, hitting $96.91. 415,425 shares of the stock traded hands, compared to its average volume of 676,233. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. The stock's fifty day simple moving average is $100.82 and its 200 day simple moving average is $96.33. The firm has a market cap of $7.62 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. Axis Capital Holdings Limited has a 52-week low of $70.16 and a 52-week high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the prior year, the business earned $3.07 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.82%. The ex-dividend date was Monday, June 30th. Axis Capital's payout ratio is 17.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXS. UBS Group increased their price objective on shares of Axis Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Jefferies Financial Group upped their price objective on Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Cowen reiterated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.25.

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.