AQR Capital Management LLC Boosts Holdings in Axis Capital Holdings Limited $AXS

Key Points

• AQR Capital Management LLC increased its holdings in Axis Capital Holdings Limited by 22.3%, owning a total of 3,290,411 shares valued at approximately $328.58 million after buying an additional 600,901 shares.
• Several institutional investors, including Price T Rowe Associates and GAMMA Investing, also significantly increased their positions in Axis Capital, indicating strong interest and confidence in the stock.
• Axis Capital's stock has a current consensus rating of "Moderate Buy" among analysts, with an average price target of $111.43, reflecting optimism for its future performance.

AQR Capital Management LLC increased its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,290,411 shares of the insurance provider's stock after purchasing an additional 600,901 shares during the quarter. AQR Capital Management LLC owned approximately 4.18% of Axis Capital worth $328,580,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AXS. The Manufacturers Life Insurance Company grew its stake in Axis Capital by 3.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 15,972 shares of the insurance provider's stock valued at $1,415,000 after buying an additional 578 shares in the last quarter. Northern Trust Corp grew its stake in Axis Capital by 19.4% in the 4th quarter. Northern Trust Corp now owns 440,763 shares of the insurance provider's stock valued at $39,060,000 after buying an additional 71,553 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Axis Capital by 0.4% during the 4th quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider's stock valued at $3,626,000 after purchasing an additional 163 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Axis Capital by 38.7% during the 4th quarter. Captrust Financial Advisors now owns 9,611 shares of the insurance provider's stock valued at $852,000 after purchasing an additional 2,681 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Axis Capital by 12.6% during the 4th quarter. Cetera Investment Advisers now owns 8,070 shares of the insurance provider's stock valued at $715,000 after purchasing an additional 905 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axis Capital

In related news, Director Henry B. Smith sold 3,500 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total transaction of $345,345.00. Following the completion of the transaction, the director directly owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Draper sold 4,305 shares of Axis Capital stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the sale, the insider owned 16,269 shares of the company's stock, valued at $1,587,366.33. The trade was a 20.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,205 shares of company stock worth $1,188,048 over the last 90 days. Insiders own 0.70% of the company's stock.

Axis Capital Trading Up 0.7%

AXS stock traded up $0.68 during trading on Monday, reaching $98.11. The company had a trading volume of 120,043 shares, compared to its average volume of 694,867. The company has a market cap of $7.67 billion, a P/E ratio of 9.43, a PEG ratio of 1.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. Axis Capital Holdings Limited has a 52 week low of $74.68 and a 52 week high of $107.19. The business has a 50 day moving average of $97.27 and a 200 day moving average of $97.78.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.41. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.68 billion. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The business's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 earnings per share. As a group, sell-side analysts forecast that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXS has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upped their target price on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. UBS Group reiterated a "buy" rating and issued a $119.00 target price (up from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Cowen reiterated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.43.

Axis Capital 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.