GAMMA Investing LLC Buys 184,132 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

GAMMA Investing LLC grew its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 11,415.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,745 shares of the insurance provider's stock after buying an additional 184,132 shares during the period. GAMMA Investing LLC owned 0.23% of AXIS Capital worth $18,619,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Summit Trail Advisors LLC bought a new position in shares of AXIS Capital in the fourth quarter valued at about $300,000. Elevate Capital Advisors LLC bought a new position in AXIS Capital in the 4th quarter valued at about $1,840,000. JPMorgan Chase & Co. lifted its position in AXIS Capital by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 133,675 shares of the insurance provider's stock worth $11,846,000 after acquiring an additional 4,303 shares during the last quarter. Barclays PLC boosted its holdings in shares of AXIS Capital by 53.6% during the third quarter. Barclays PLC now owns 48,964 shares of the insurance provider's stock worth $3,898,000 after acquiring an additional 17,082 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of AXIS Capital during the fourth quarter worth approximately $246,000. Institutional investors and hedge funds own 93.44% of the company's stock.

AXIS Capital Price Performance

AXIS Capital stock traded up $2.07 during trading hours on Friday, reaching $107.07. 1,085,788 shares of the stock were exchanged, compared to its average volume of 600,548. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a twelve month low of $68.02 and a twelve month high of $107.19. The company has a market cap of $8.42 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 3.96 and a beta of 0.83. The stock has a 50 day moving average of $98.18 and a two-hundred day moving average of $93.99.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating the consensus estimate of $2.64 by $0.53. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The company's revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.07 earnings per share. Equities analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.64%. AXIS Capital's dividend payout ratio is currently 17.46%.

Wall Street Analysts Forecast Growth

AXS has been the subject of several research reports. Wells Fargo & Company lifted their price target on AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research report on Thursday, May 1st. Jefferies Financial Group boosted their target price on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Cowen restated a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

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.