Allspring Global Investments Holdings LLC Cuts Stake in Axis Capital Holdings Limited $AXS

Allspring Global Investments Holdings LLC cut its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,167 shares of the insurance provider's stock after selling 19,883 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Axis Capital worth $13,202,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in shares of Axis Capital during the fourth quarter worth $30,000. Fideuram Asset Management Ireland dac purchased a new stake in Axis Capital in the fourth quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Axis Capital in the fourth quarter worth about $51,000. DV Equities LLC acquired a new stake in Axis Capital in the fourth quarter worth about $54,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Axis Capital during the fourth quarter worth about $55,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Trading Down 0.5%

Shares of Axis Capital stock opened at $114.48 on Wednesday. The firm has a 50-day simple moving average of $104.17 and a two-hundred day simple moving average of $102.73. 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 Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $116.63. The company has a market cap of $8.44 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 3.36 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last posted 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 period last year, the firm earned $3.17 EPS. As a group, equities analysts predict that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.5%. Axis Capital's dividend payout ratio (DPR) is currently 13.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, July 7th. UBS Group increased their price objective on Axis Capital from $129.00 to $131.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Atlantic Securities set a $122.00 price objective on Axis Capital in a research note on Wednesday, July 15th. Bank of America decreased their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods upped their target price on Axis Capital from $126.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Axis Capital currently has an average rating of "Moderate Buy" and a consensus price target of $124.45.

Insiders Place Their Bets

In related news, Director Henry B. Smith sold 2,542 shares of Axis Capital stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the sale, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% 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.

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