Credit Agricole S A Acquires 11,516 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Credit Agricole S A increased its position in Axis Capital Holdings by 110.7%, owning 21,919 shares worth approximately $2.20 million as of their latest SEC filing.
• Several institutional investors, including Wells Fargo and NewEdge Advisors, also significantly boosted their stakes in Axis Capital, contributing to 93.44% of the company's total stock ownership.
• Axis Capital reported a 12.6% year-over-year revenue increase for the last quarter, with earnings per share surpassing analysts' estimates, leading to positive adjustments in analysts' price targets for the stock.

Credit Agricole S A increased its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 110.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,919 shares of the insurance provider's stock after acquiring an additional 11,516 shares during the period. Credit Agricole S A's holdings in Axis Capital were worth $2,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in Axis Capital during the first quarter worth approximately $33,000. IFP Advisors Inc boosted its holdings in Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after buying an additional 540 shares in the last quarter. Private Trust Co. NA boosted its holdings in Axis Capital by 36.9% during the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after buying an additional 319 shares in the last quarter. US Bancorp DE boosted its holdings in Axis Capital by 34.3% during the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after buying an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Axis Capital by 14.9% during the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after buying an additional 240 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group restated a "buy" rating and issued a $119.00 price target (up previously from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Cowen reiterated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Axis Capital currently has an average rating of "Moderate Buy" and a consensus price target of $111.43.

Insider Activity

In related news, insider Daniel J. Draper sold 4,305 shares of Axis Capital stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the transaction, the insider directly owned 16,269 shares of the company's stock, valued at $1,587,366.33. This trade represents a 20.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of Axis Capital stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the sale, the director owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,205 shares of company stock valued at $1,188,048 over the last three months. 0.70% of the stock is currently owned by insiders.

Axis Capital Stock Performance

NYSE:AXS traded down $0.10 during midday trading on Thursday, reaching $98.29. The stock had a trading volume of 233,188 shares, compared to its average volume of 702,754. Axis Capital Holdings Limited has a 1-year low of $74.68 and a 1-year high of $107.19. The firm's fifty day simple moving average is $97.84 and its 200-day simple moving average is $97.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $7.68 billion, a P/E ratio of 9.45, a PEG ratio of 1.42 and a beta of 0.83.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.41. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.68 billion. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. On average, equities research analysts forecast that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital 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.