Axis Capital Holdings Limited $AXS Shares Newly Bought by CenterBook Partners LP

Key Points

• CenterBook Partners opened a new position in Axis Capital, buying 12,044 shares valued at approximately $1.14 million.
• Axis Capital reported quarterly earnings of $3.12 per share, beating analysts’ $2.85 estimate, while revenue of $1.79 billion also exceeded forecasts.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $120; institutional investors collectively own 93.44% of the stock.

CenterBook Partners LP acquired a new stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,044 shares of the insurance provider's stock, valued at approximately $1,135,000.

A number of other institutional investors have also recently added to or reduced their stakes in AXS. Dimensional Fund Advisors LP lifted its holdings in Axis Capital by 8.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,682,238 shares of the insurance provider's stock valued at $373,412,000 after purchasing an additional 299,573 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Axis Capital by 31.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 979,944 shares of the insurance provider's stock valued at $99,376,000 after acquiring an additional 234,353 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Axis Capital by 64.0% during the first quarter. Quantinno Capital Management LP now owns 318,539 shares of the insurance provider's stock valued at $32,303,000 after acquiring an additional 124,317 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Axis Capital by 65.5% in the first quarter. Bank of Nova Scotia now owns 183,169 shares of the insurance provider's stock valued at $18,575,000 after acquiring an additional 72,465 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Axis Capital by 180.6% in the second quarter. Squarepoint Ops LLC now owns 108,501 shares of the insurance provider's stock worth $11,657,000 after acquiring an additional 69,828 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Stock Performance

Shares of Axis Capital stock opened at $106.36 on Tuesday. Axis Capital Holdings Limited has a one year low of $93.02 and a one year high of $119.99. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 3.58 and a beta of 0.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64. The business's 50 day moving average price is $99.62 and its 200 day moving average price is $102.16.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $3.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.27. Axis Capital had a return on equity of 16.61% and a net margin of 14.62%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. On average, research analysts predict that Axis Capital Holdings Limited will post 12.47 EPS for the current year.

Axis Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. Axis Capital's payout ratio is presently 13.45%.

Insider Buying and Selling at Axis Capital

In other news, Director Henry Smith sold 4,893 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $106.15, for a total transaction of $519,391.95. Following the transaction, the director owned 41,454 shares of the company's stock, valued at approximately $4,400,342.10. The trade was a 10.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AXS. BMO Capital Markets reissued a "market perform" rating on shares of Axis Capital in a research note on Wednesday, July 29th. TD Cowen reaffirmed a "buy" rating and set a $130.00 target price on shares of Axis Capital in a report on Tuesday, August 25th. UBS Group reduced their target price on shares of Axis Capital from $131.00 to $126.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Zacks Research raised shares of Axis Capital from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Finally, Wells Fargo & Company boosted their price target on shares of Axis Capital from $112.00 to $122.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.00.

Axis Capital Company Profile

AXIS Capital Holdings Limited is a global specialty insurer and reinsurer headquartered in Bermuda. Founded in 2001, the company serves businesses and other clients through insurance and reinsurance operations.

Its insurance offerings include coverage for property and casualty risks, professional liability, cyber, marine, aviation, energy, and accident and health. Its reinsurance business provides protection to other insurers across property, casualty, and specialty lines.

AXIS operates in markets around the world, including North America, Europe, and Asia-Pacific.

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