Axis Capital Holdings Limited (NYSE:AXS) Position Decreased by Levin Capital Strategies L.P.

Key Points

• Levin Capital Strategies L.P. reduced its stake in Axis Capital Holdings by 7.3%, now holding 255,057 shares, making it the firm's 8th largest position.
• Axis Capital recently announced a quarterly dividend of $0.44 per share, translating to an annual yield of 1.9% and a payout ratio of 16.92%.
• Analysts have mixed ratings for Axis Capital, with a consensus rating of "Moderate Buy" and a target price of $111.43, despite recent upgrades from UBS and Wells Fargo.

Levin Capital Strategies L.P. cut its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,057 shares of the insurance provider's stock after selling 20,014 shares during the period. Axis Capital accounts for 2.7% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 8th largest holding. Levin Capital Strategies L.P. owned about 0.32% of Axis Capital worth $25,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in Axis Capital during the first quarter valued at $33,000. IFP Advisors Inc increased its holdings in Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after purchasing an additional 540 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Axis Capital during the 4th quarter worth approximately $88,000. Private Trust Co. NA boosted its holdings in shares of 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 buying an additional 319 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of 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 buying an additional 416 shares during the period. 93.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AXS. Wall Street Zen cut shares of Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. JMP Securities restated a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. UBS Group reissued a "buy" rating and issued a $119.00 price target (up previously from $115.00) on shares of Axis Capital in a research report on Monday. Wells Fargo & Company upped their target price on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Cowen reissued a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $111.43.

Axis Capital Stock Performance

AXS stock traded up $0.69 during midday trading on Thursday, reaching $95.97. 911,665 shares of the company's stock traded hands, compared to its average volume of 723,676. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average is $99.61 and its 200 day moving average is $96.69. The stock has a market cap of $7.50 billion, a P/E ratio of 9.23, a PEG ratio of 1.47 and a beta of 0.83. Axis Capital Holdings Limited has a 52-week low of $71.80 and a 52-week high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data 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 net margin of 14.30% and a return on equity of 18.77%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business's revenue was up 12.6% on a year-over-year basis. As a group, analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 30th. Axis Capital's dividend payout ratio (DPR) is presently 16.92%.

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.