Axis Capital Holdings Limited (NYSE:AXS) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,372 shares of the insurance provider's stock after acquiring an additional 8,443 shares during the period. Bank of New York Mellon Corp owned approximately 0.40% of Axis Capital worth $31,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in Axis Capital in the first quarter valued at about $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Axis Capital during the 4th quarter valued at approximately $53,000. EverSource Wealth Advisors LLC lifted its stake in Axis Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 285 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Axis Capital by 21.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider's stock worth $80,000 after purchasing an additional 160 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Axis Capital in the 4th quarter worth approximately $88,000. 93.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AXS has been the topic of several recent research reports. UBS Group increased their target price on shares of Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Jefferies Financial Group increased their target price on shares of Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.25.

Axis Capital Stock Performance

AXS stock traded up $0.09 during midday trading on Friday, reaching $97.09. 324,207 shares of the company's stock traded hands, compared to its average volume of 627,039. The stock has a market cap of $7.64 billion, a P/E ratio of 9.63, a PEG ratio of 1.17 and a beta of 0.81. Axis Capital Holdings Limited has a 52-week low of $70.16 and a 52-week high of $107.19. The stock's 50-day moving average is $101.20 and its 200 day moving average is $95.99. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business earned $3.07 earnings per share. Axis Capital's revenue for the quarter was up 6.8% 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 firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Monday, June 30th. Axis Capital's payout ratio is 17.46%.

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.