Balyasny Asset Management L.P. grew its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,602 shares of the insurance provider's stock after buying an additional 40,583 shares during the period. Balyasny Asset Management L.P. owned approximately 1.41% of Axis Capital worth $116,471,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Orion Porfolio Solutions LLC lifted its position in Axis Capital by 5.0% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider's stock worth $202,000 after buying an additional 100 shares during the last quarter. Truist Financial Corp lifted its position in Axis Capital by 2.3% in the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock worth $492,000 after buying an additional 105 shares during the last quarter. Stifel Financial Corp lifted its position in Axis Capital by 0.3% in the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider's stock worth $3,975,000 after buying an additional 122 shares during the last quarter. Evoke Wealth LLC lifted its position in Axis Capital by 6.0% in the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock worth $304,000 after buying an additional 161 shares during the last quarter. Finally, GW Henssler & Associates Ltd. lifted its position in Axis Capital by 6.8% in the 4th quarter. GW Henssler & Associates Ltd. now owns 2,536 shares of the insurance provider's stock worth $272,000 after buying an additional 162 shares during the last quarter. Institutional investors own 93.44% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on AXS. Mizuho set a $137.00 target price on Axis Capital in a research report on Monday, May 4th. Wells Fargo & Company dropped their target price on Axis Capital from $123.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Bank of America dropped their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods decreased their price objective on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Axis Capital from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, June 4th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.10.
Get Our Latest Analysis on AXS
Insider Transactions at Axis Capital
In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the sale, the director owned 46,347 shares of the company's stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.
Axis Capital Stock Up 0.6%
AXS opened at $103.32 on Thursday. The company has a market cap of $7.62 billion, a P/E ratio of 7.70, a P/E/G ratio of 3.14 and a beta of 0.51. The business's 50-day moving average price is $99.37 and its 200-day moving average price is $101.81. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. Axis Capital Holdings Limited has a 12 month low of $88.07 and a 12 month high of $110.34.
Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.17 EPS. On average, equities analysts expect that Axis Capital Holdings Limited will post 13.25 EPS for the current year.
Axis Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.44 dividend. 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, June 30th. Axis Capital's dividend payout ratio (DPR) is 13.11%.
Axis Capital Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axis Capital Holdings Limited (NYSE:AXS - Free Report).
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