Axis Capital Holdings Limited $AXS Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Axis Capital Holdings by 2.4%, now owning approximately 4.27% of the company, valued at about $336.9 million.
• Insider Daniel J. Draper sold 2,200 shares at an average price of $96, resulting in a total value of $211,200 and a 9.66% decrease in his position.
• Analyst ratings for Axis Capital fluctuate, with a consensus average rating of "Moderate Buy" and a price target of $111.43, as some firms raise their price objectives while others downgrade ratings.

T. Rowe Price Investment Management Inc. decreased its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,361,200 shares of the insurance provider's stock after selling 82,928 shares during the period. T. Rowe Price Investment Management Inc. owned about 4.27% of Axis Capital worth $336,927,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Axis Capital

In other Axis Capital news, insider Daniel J. Draper sold 2,200 shares of Axis Capital stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $96.00, for a total value of $211,200.00. Following the transaction, the insider directly owned 20,574 shares in the company, valued at approximately $1,975,104. This trade represents a 9.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of recent analyst reports. Wells Fargo & Company increased 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 increased 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 research note on Wednesday, May 14th. Wall Street Zen downgraded Axis Capital from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, UBS Group restated a "buy" rating and set a $119.00 price target (up previously from $115.00) on shares of Axis Capital in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.43.

Axis Capital Trading Up 1.2%

Shares of AXS stock opened at $97.6380 on Thursday. The business's 50 day moving average is $98.29 and its two-hundred day moving average is $97.11. Axis Capital Holdings Limited has a twelve month low of $74.27 and a twelve month high of $107.19. The company has a market capitalization of $7.63 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 1.41 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share 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 company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $2.93 EPS. The company's revenue was up 12.6% on a year-over-year basis. Equities analysts forecast that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

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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