Allspring Global Investments Holdings LLC Buys 27,515 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Axis Capital (NYSE:AXS) by 22.1% in Q4, buying 27,515 shares to hold 152,050 shares worth about $15.85 million (≈0.20% of the company).
• Axis Capital beat Q4 expectations with $3.25 EPS vs. $2.97 expected and revenue of $1.73B (up 17.8% YoY), announced a quarterly dividend of $0.44 per share (1.7% yield, ex-dividend Mar 31), and carries an average analyst price target of $124 with mostly Buy/Strong Buy ratings.

Allspring Global Investments Holdings LLC increased its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,050 shares of the insurance provider's stock after acquiring an additional 27,515 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Axis Capital worth $15,853,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Axis Capital in the 3rd quarter valued at $29,000. Abich Financial Wealth Management LLC acquired a new position in Axis Capital in the third quarter valued at about $43,000. Mather Group LLC. acquired a new position in Axis Capital in the third quarter valued at about $62,000. Quent Capital LLC bought a new stake in shares of Axis Capital in the third quarter worth about $67,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Axis Capital in the third quarter worth about $70,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Price Performance

Shares of NYSE AXS opened at $101.74 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $102.63 and a 200-day moving average of $100.67. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 2.01 and a beta of 0.63. Axis Capital Holdings Limited has a fifty-two week low of $84.81 and a fifty-two week high of $110.34.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.97 by $0.28. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the firm posted $3.38 earnings per share. The business's quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital's dividend payout ratio is 14.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXS. Keefe, Bruyette & Woods lifted their price target on shares of Axis Capital from $121.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, January 6th. UBS Group restated a "buy" rating on shares of Axis Capital in a report on Monday, February 2nd. Royal Bank Of Canada boosted their price objective on shares of Axis Capital from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Weiss Ratings raised shares of Axis Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, March 17th. Finally, Roth Mkm reiterated a "buy" rating and set a $120.00 target price on shares of Axis Capital in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Axis Capital has an average rating of "Moderate Buy" and an average price target of $124.00.

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.

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