Altrinsic Global Advisors LLC Has $170.10 Million Stock Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Altrinsic Global Advisors trimmed its Axis Capital stake by 2.3% to 1,775,617 shares valued at about $170.10 million, representing roughly 6.3% of Altrinsic's portfolio and ≈2.3% ownership of Axis.
• Axis Capital posted a quarterly beat (EPS $3.25 vs. $2.97 expected; revenue $1.73B vs. $1.33B, +17.8% YoY) and pays a quarterly dividend of $0.44 (annualized $1.76, ~1.7% yield); analysts hold a consensus "Moderate Buy" with a $124 average target.

Altrinsic Global Advisors LLC lowered its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,775,617 shares of the insurance provider's stock after selling 41,587 shares during the quarter. Axis Capital accounts for about 6.3% of Altrinsic Global Advisors LLC's portfolio, making the stock its 8th biggest position. Altrinsic Global Advisors LLC owned about 2.30% of Axis Capital worth $170,104,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXS. Root Financial Partners LLC bought a new stake in Axis Capital during the 3rd quarter worth approximately $29,000. AlphaCore Capital LLC acquired a new stake in Axis Capital during the 2nd quarter worth approximately $37,000. Elevation Point Wealth Partners LLC bought a new position in Axis Capital in the second quarter valued at approximately $41,000. Abich Financial Wealth Management LLC bought a new position in Axis Capital in the third quarter valued at approximately $43,000. Finally, Allworth Financial LP boosted its holdings in shares of Axis Capital by 145.1% in the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider's stock valued at $60,000 after buying an additional 344 shares during the period. Institutional investors own 93.44% of the company's stock.

Axis Capital Price Performance

NYSE AXS opened at $100.90 on Friday. The firm's 50 day moving average is $102.97 and its 200-day moving average is $100.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.46 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. Axis Capital Holdings Limited has a 12-month low of $84.81 and a 12-month high of $110.34.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.97 by $0.28. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The firm's revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.38 earnings per share. Equities research analysts anticipate 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 will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 31st. Axis Capital's dividend payout ratio is currently 14.21%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AXS shares. The Goldman Sachs Group reissued a "neutral" rating and set a $110.00 price objective on shares of Axis Capital in a research report on Wednesday, January 7th. Bank of America reduced their target price on shares of Axis Capital from $119.00 to $115.00 and set a "neutral" rating for the company in a research note on Thursday, January 29th. Compass Point set a $121.00 target price on Axis Capital in a report on Monday, November 24th. Roth Mkm reissued a "buy" rating and issued a $120.00 price target on shares of Axis Capital in a research note on Thursday, January 29th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $122.00 price target on shares of Axis Capital in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.00.

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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