Altrinsic Global Advisors LLC Sells 125,280 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Altrinsic Global Advisors LLC reduced its stake in Axis Capital Holdings Limited by 9.2% in the first quarter, now holding 1,230,628 shares which represent 6.1% of its total holdings.
• Axis Capital reported $3.29 EPS for the quarter, exceeding analysts' estimates of $2.88, with a revenue of $1.63 billion, showing a 12.6% increase year-over-year.
• Several analysts have raised their price targets for Axis Capital, with UBS Group setting a new target of $119.00, indicating a consensus rating of "Moderate Buy."

Altrinsic Global Advisors LLC lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 9.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,230,628 shares of the insurance provider's stock after selling 125,280 shares during the quarter. Axis Capital comprises approximately 6.1% of Altrinsic Global Advisors LLC's holdings, making the stock its 6th largest position. Altrinsic Global Advisors LLC owned approximately 1.56% of Axis Capital worth $123,358,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Axis Capital during the 1st quarter worth $33,000. IFP Advisors Inc boosted its position in Axis Capital by 1,542.9% during the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after acquiring an additional 540 shares during the period. Private Trust Co. NA boosted its position in Axis Capital by 36.9% during the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after acquiring an additional 319 shares during the period. US Bancorp DE boosted its position in Axis Capital by 34.3% during the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after acquiring an additional 416 shares during the period. Finally, GAMMA Investing LLC boosted its position in Axis Capital by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Trading Down 0.2%

Shares of NYSE AXS traded down $0.17 during mid-day trading on Friday, hitting $98.47. 463,745 shares of the company traded hands, compared to its average volume of 630,163. Axis Capital Holdings Limited has a 1 year low of $74.68 and a 1 year high of $107.19. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.44 and a beta of 0.83. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $97.69 and a two-hundred day moving average of $97.48.

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

Insider Buying and Selling at Axis Capital

In related news, Director Henry B. Smith sold 3,500 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the transaction, the director directly owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Draper sold 4,305 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the transaction, the insider directly owned 16,269 shares in the company, valued at $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,205 shares of company stock valued at $1,188,048. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.