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Allspring Global Investments Holdings LLC Decreases Position in Axis Capital Holdings Limited (NYSE:AXS)

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Allspring Global Investments Holdings LLC lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 926,354 shares of the insurance provider's stock after selling 195,822 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.18% of Axis Capital worth $93,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Axis Capital in the 4th quarter valued at $246,000. Bank of New York Mellon Corp boosted its stake in shares of Axis Capital by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 305,929 shares of the insurance provider's stock worth $27,111,000 after acquiring an additional 24,891 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Axis Capital by 116.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 14,877 shares of the insurance provider's stock valued at $1,318,000 after acquiring an additional 8,000 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Axis Capital in the 4th quarter valued at approximately $1,673,000. Finally, QRG Capital Management Inc. lifted its holdings in Axis Capital by 4.3% in the 4th quarter. QRG Capital Management Inc. now owns 8,442 shares of the insurance provider's stock worth $748,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Analysts Set New Price Targets

AXS has been the subject of a number of analyst reports. Cowen restated a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. JMP Securities restated a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wall Street Zen raised Axis Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Jefferies Financial Group increased their target price on Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, UBS Group lifted their price target on Axis Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

Read Our Latest Stock Report on Axis Capital

Axis Capital Stock Performance

AXS traded down $4.20 during trading on Wednesday, hitting $98.24. The stock had a trading volume of 826,714 shares, compared to its average volume of 710,470. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50 day moving average price of $101.28 and a 200-day moving average price of $95.32. Axis Capital Holdings Limited has a one year low of $68.56 and a one year high of $107.19. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 1.24 and a beta of 0.81.

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

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.79%. Axis Capital's payout ratio is 17.46%.

Axis Capital Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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