Asset Management One Co. Ltd. Purchases New Stake in Axis Capital Holdings Limited (NYSE:AXS)

Asset Management One Co. Ltd. purchased a new position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,710 shares of the insurance provider's stock, valued at approximately $1,374,000.

Several other hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Axis Capital during the first quarter worth $33,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Axis Capital during the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC raised its holdings in Axis Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 285 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Axis Capital in the fourth quarter valued at $60,000. Finally, Assetmark Inc. purchased a new stake in shares of Axis Capital in the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AXS shares. Jefferies Financial Group boosted their target price on Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a report on Friday, April 11th. UBS Group upped their price target on shares of Axis Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Cowen restated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

Axis Capital Stock Up 0.9%

NYSE AXS traded up $0.88 on Thursday, reaching $99.11. The company had a trading volume of 661,626 shares, compared to its average volume of 712,847. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.68 and a quick ratio of 0.68. Axis Capital Holdings Limited has a 1 year low of $68.56 and a 1 year high of $107.19. The firm has a 50-day moving average of $101.34 and a 200-day moving average of $95.34. The firm has a market capitalization of $7.80 billion, a PE ratio of 9.83, a P/E/G ratio of 1.23 and a beta of 0.81.

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

Axis Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital's payout ratio is 17.46%.

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.