California State Teachers Retirement System Sells 5,941 Shares of Axis Capital Holdings Limited $AXS

California State Teachers Retirement System cut its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,533 shares of the insurance provider's stock after selling 5,941 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Axis Capital worth $9,297,106 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Truist Financial Corp increased its holdings in Axis Capital by 2.3% during the fourth quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock valued at $492,000 after buying an additional 105 shares during the period. Rockefeller Capital Management L.P. raised its position in Axis Capital by 2.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider's stock valued at $577,000 after purchasing an additional 107 shares during the last quarter. Evoke Wealth LLC increased its holdings in Axis Capital by 6.0% in the fourth quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock valued at $304,000 after buying an additional 161 shares in the last quarter. GW Henssler & Associates Ltd. increased its stake in shares of Axis Capital by 6.8% during the 4th quarter. GW Henssler & Associates Ltd. now owns 2,536 shares of the insurance provider's stock valued at $272,000 after acquiring an additional 162 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 177 shares during the period. 93.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXS. Capital One Financial set a $108.00 price objective on shares of Axis Capital in a research report on Wednesday, July 29th. Wells Fargo & Company dropped their target price on Axis Capital from $134.00 to $126.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Keefe, Bruyette & Woods cut their price objective on Axis Capital from $131.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 4th. BMO Capital Markets reissued a "market perform" rating on shares of Axis Capital in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Axis Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Axis Capital presently has an average rating of "Moderate Buy" and a consensus price target of $121.23.

Axis Capital Price Performance

NYSE:AXS traded up $0.08 during trading hours on Tuesday, reaching $100.08. 231,466 shares of the company traded hands, compared to its average volume of 643,352. The firm's 50-day moving average is $105.25 and its 200-day moving average is $102.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. Axis Capital Holdings Limited has a 1-year low of $88.07 and a 1-year high of $119.99. The stock has a market cap of $7.30 billion, a P/E ratio of 7.10, a P/E/G ratio of 4.28 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.25 by ($0.41). Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business posted $3.29 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that Axis Capital Holdings Limited will post 12.39 earnings per share for the current fiscal year.

Axis Capital Profile

AXIS Capital Holdings Limited NYSE: AXS is a Bermuda-based specialty insurance and reinsurance company. Through its subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurance companies.

Its insurance operations offer products across property, casualty, professional liability, cyber, marine, aviation, accident and health, and other specialty lines. Its reinsurance business assumes risks from primary insurers through property, casualty and specialty reinsurance arrangements.

Founded in 2001, AXIS serves clients and distribution partners in major insurance markets across North America, Bermuda, Europe, Asia-Pacific and other international regions.

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