Corient Private Wealth LP Sells 15,155 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Corient Private Wealth reduced its Axis Capital stake by 18.7%, selling 15,155 shares during the second quarter and retaining 65,879 shares valued at approximately $7.1 million. Institutional investors collectively own 93.44% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $120.31, despite recent target reductions by Mizuho and UBS.
• Axis Capital reported quarterly EPS of $2.84, below the $3.25 consensus estimate, while revenue rose 7.4% year over year to $1.75 billion. The company also declared a quarterly dividend of $0.44 per share, implying a 1.8% annualized yield.

Corient Private Wealth LP trimmed its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 18.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,879 shares of the insurance provider's stock after selling 15,155 shares during the quarter. Corient Private Wealth LP owned 0.09% of Axis Capital worth $7,081,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Assetmark Inc. lifted 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 buying an additional 177 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Axis Capital during the first quarter worth about $43,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Axis Capital during the fourth quarter worth about $47,000. Global Retirement Partners LLC raised its holdings in shares of Axis Capital by 1,062.5% in the 4th quarter. Global Retirement Partners LLC now owns 558 shares of the insurance provider's stock worth $60,000 after acquiring an additional 510 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Axis Capital in the 1st quarter worth about $68,000. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho cut their price target on Axis Capital from $130.00 to $118.00 and set an "outperform" rating for the company in a research note on Wednesday. UBS Group lowered their price objective on Axis Capital from $131.00 to $126.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Weiss Ratings upgraded Axis Capital from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, September 2nd. Capital One Financial set a $108.00 target price on Axis Capital in a research report on Wednesday, July 29th. Finally, Atlantic Securities set a $122.00 price target on Axis Capital in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.31.

Axis Capital Trading Up 0.6%

NYSE:AXS opened at $100.15 on Friday. Axis Capital Holdings Limited has a 52 week low of $88.07 and a 52 week high of $119.99. The firm has a 50-day moving average price of $104.46 and a two-hundred day moving average price of $102.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 4.35 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $3.25 by ($0.41). The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.74 billion. Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.Axis Capital's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 EPS. On average, equities analysts expect that Axis Capital Holdings Limited will post 12.38 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital's payout ratio is currently 12.50%.

About Axis Capital

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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