Axis Capital Holdings Limited $AXS Shares Sold by Mirabella Financial Services LLP

Key Points

• Mirabella Financial Services cut its stake in Axis Capital by 31.3% in Q3, selling 51,611 shares and leaving it with 113,494 shares worth about $10.87 million, making AXS its 21st-largest holding.
• Axis beat quarterly expectations with EPS of $3.25 (vs. $2.97 est.) and revenue of $1.73B (vs. $1.33B est.), and analysts have a consensus rating of “Moderate Buy” with a $124 target price.
• The company announced a quarterly dividend of $0.44 (annualized $1.76) for a 1.7% yield, and institutional investors own roughly 93.44% of the stock.

Mirabella Financial Services LLP lowered its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,494 shares of the insurance provider's stock after selling 51,611 shares during the period. Axis Capital comprises 0.3% of Mirabella Financial Services LLP's investment portfolio, making the stock its 21st biggest position. Mirabella Financial Services LLP owned approximately 0.15% of Axis Capital worth $10,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Axis Capital by 12.4% during the first quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider's stock worth $6,361,000 after purchasing an additional 7,023 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Axis Capital by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider's stock worth $20,605,000 after buying an additional 12,680 shares during the period. Jane Street Group LLC lifted its position in Axis Capital by 86.2% during the 1st quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider's stock worth $4,739,000 after acquiring an additional 21,892 shares during the period. Focus Partners Wealth grew its position in Axis Capital by 42.1% in the 1st quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider's stock valued at $1,044,000 after buying an additional 3,085 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Axis Capital by 33.6% in the second quarter. Sivia Capital Partners LLC now owns 3,924 shares of the insurance provider's stock valued at $407,000 after acquiring an additional 987 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $122.00 price objective on shares of Axis Capital in a report on Friday, January 30th. Weiss Ratings lowered shares of Axis Capital from a "buy (a-)" rating to a "buy (b)" rating in a research report on Thursday, January 22nd. UBS Group reiterated a "buy" rating on shares of Axis Capital in a report on Monday, February 2nd. Compass Point set a $121.00 price objective on shares of Axis Capital in a research note on Monday, November 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of Axis Capital from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

Axis Capital Stock Performance

NYSE:AXS opened at $100.92 on Tuesday. Axis Capital Holdings Limited has a fifty-two week low of $84.81 and a fifty-two week high of $110.34. The firm's 50 day moving average is $102.88 and its two-hundred day moving average is $100.39. The company has a market cap of $7.46 billion, a P/E ratio of 8.14, a P/E/G ratio of 2.01 and a beta of 0.61. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.28. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.38 EPS. Analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital's dividend payout ratio is 14.21%.

Axis Capital Company 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.

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