Atlas Capital Advisors Inc. bought a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,004 shares of the insurance provider's stock, valued at approximately $1,178,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXS. Norges Bank bought a new stake in Axis Capital during the 4th quarter valued at approximately $103,001,000. Freestone Grove Partners LP bought a new stake in Axis Capital during the 3rd quarter valued at approximately $56,705,000. Millennium Management LLC raised its stake in Axis Capital by 374.7% during the 3rd quarter. Millennium Management LLC now owns 553,565 shares of the insurance provider's stock valued at $53,032,000 after purchasing an additional 436,944 shares during the period. Allianz Asset Management GmbH raised its stake in Axis Capital by 41.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,370,479 shares of the insurance provider's stock valued at $146,765,000 after purchasing an additional 400,068 shares during the period. Finally, Woodline Partners LP increased its stake in Axis Capital by 196.5% in the 3rd quarter. Woodline Partners LP now owns 484,619 shares of the insurance provider's stock worth $46,426,000 after acquiring an additional 321,145 shares during the last quarter. Institutional investors own 93.44% of the company's stock.
Insider Buying and Selling at Axis Capital
In other news, Director Henry B. Smith sold 2,542 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director owned 46,347 shares of the company's stock, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.
Axis Capital Stock Performance
NYSE AXS opened at $101.47 on Monday. The company has a market cap of $7.48 billion, a P/E ratio of 7.56, a P/E/G ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The business's 50 day moving average price is $99.32 and its 200-day moving average price is $101.79. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34.
Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.17 EPS. Sell-side analysts predict that Axis Capital Holdings Limited will post 13.25 earnings per share for the current year.
Axis Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. Axis Capital's payout ratio is currently 13.11%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on AXS shares. Keefe, Bruyette & Woods reduced their price objective on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings downgraded Axis Capital from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, June 4th. Bank of America reduced their price objective on Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company reduced their price objective on Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Finally, Mizuho set a $137.00 price objective on Axis Capital in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.10.
Check Out Our Latest Analysis on AXS
About Axis Capital
(
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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