Axis Capital Holdings Limited $AXS is Altrinsic Global Advisors LLC's 6th Largest Position

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 lowered its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,230,628 shares of the insurance provider's stock after selling 125,280 shares during the period. 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 1.56% of Axis Capital worth $123,358,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in Axis Capital by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider's stock worth $671,000 after buying an additional 145 shares during the period. Cetera Investment Advisers lifted its stake in Axis Capital by 2.0% in the 1st quarter. Cetera Investment Advisers now owns 8,231 shares of the insurance provider's stock worth $825,000 after purchasing an additional 161 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Axis Capital by 0.4% in the 4th quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider's stock worth $3,626,000 after purchasing an additional 163 shares in the last quarter. Intrust Bank NA lifted its stake in Axis Capital by 2.9% in the 1st quarter. Intrust Bank NA now owns 6,042 shares of the insurance provider's stock worth $606,000 after purchasing an additional 170 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in Axis Capital by 7.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,736 shares of the insurance provider's stock worth $274,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 93.44% of the company's stock.

Axis Capital Price Performance

Shares of AXS stock opened at $98.0860 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $7.67 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.45 and a beta of 0.83. The company's 50-day simple moving average is $98.02 and its two-hundred day simple moving average is $97.32. Axis Capital Holdings Limited has a one year low of $74.68 and a one year high of $107.19.

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

Insider Transactions at Axis Capital

In other news, insider Daniel J. Draper sold 4,305 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the transaction, the insider directly owned 16,269 shares in the company, valued at approximately $1,587,366.33. This trade represents a 20.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry B. Smith sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 47,295 shares in the company, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. JMP Securities restated a "market perform" rating on shares of Axis Capital in a research report on Thursday, May 1st. Wall Street Zen cut 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 company an "equal weight" rating in a research report on Thursday, July 10th. Finally, UBS Group restated a "buy" rating and set a $119.00 target price (up from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.

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