BNP Paribas Financial Markets Lowers Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

BNP Paribas Financial Markets reduced its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 74.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,849 shares of the insurance provider's stock after selling 23,295 shares during the period. BNP Paribas Financial Markets' holdings in AXIS Capital were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Summit Trail Advisors LLC acquired a new position in AXIS Capital in the fourth quarter valued at about $300,000. Merit Financial Group LLC bought a new stake in shares of AXIS Capital during the fourth quarter worth approximately $549,000. Elevate Capital Advisors LLC bought a new stake in shares of AXIS Capital during the fourth quarter worth approximately $1,840,000. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 4,303 shares during the last quarter. Finally, Barclays PLC raised its stake 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 buying an additional 17,082 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

AXIS Capital Price Performance

Shares of AXIS Capital stock traded down $0.76 during midday trading on Wednesday, hitting $101.90. 21,493 shares of the company traded hands, compared to its average volume of 592,399. AXIS Capital Holdings Limited has a 12 month low of $68.02 and a 12 month high of $103.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 3.96 and a beta of 0.82. The firm's fifty day moving average price is $97.32 and its 200-day moving average price is $92.99.

AXIS Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $0.53. The company had revenue of $1.52 billion for 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%. AXIS Capital's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.07 EPS. As a group, sell-side analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.73%. AXIS Capital's dividend payout ratio is presently 17.46%.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AXS shares. Jefferies Financial Group boosted their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group upped their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Wall Street Zen raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, Cowen reaffirmed a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.75.

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.