Cwm LLC Has $7.47 Million Stock Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Cwm LLC increased its holdings in Axis Capital Holdings Limited by 29.2% in the second quarter, now owning about 0.09% of the company valued at approximately $7.47 million.
• Multiple large investors have also significantly increased their positions in Axis Capital, contributing to institutional ownership now at 93.44% of the company's stock.
• Axis Capital recently reported quarterly earnings per share of $3.29, surpassing analyst expectations by $0.41, with revenue growth of 12.6% year-over-year.

Cwm LLC increased its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 29.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,977 shares of the insurance provider's stock after acquiring an additional 16,256 shares during the period. Cwm LLC owned about 0.09% of Axis Capital worth $7,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after buying an additional 540 shares in the last quarter. Parallel Advisors LLC boosted its position in Axis Capital by 34.0% in the second quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider's stock valued at $106,000 after buying an additional 259 shares in the last quarter. Private Trust Co. NA boosted its position in Axis Capital by 36.9% in the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after buying an additional 319 shares in the last quarter. US Bancorp DE boosted its position in Axis Capital by 34.3% in the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after buying an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Axis Capital by 14.9% in the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock valued at $186,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Axis Capital in a research report on Tuesday. They issued a "neutral" rating and a $104.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. UBS Group lifted their price target on shares of Axis Capital from $119.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $123.00 price target on shares of Axis Capital and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Axis Capital has an average rating of "Moderate Buy" and an average target price of $115.29.

Axis Capital Price Performance

Shares of NYSE AXS opened at $98.83 on Wednesday. Axis Capital Holdings Limited has a twelve month low of $77.21 and a twelve month high of $107.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $7.73 billion, a PE ratio of 9.50, a P/E/G ratio of 1.40 and a beta of 0.73. The firm has a fifty day simple moving average of $96.74 and a 200 day simple moving average of $97.96.

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 for the quarter, beating the consensus estimate of $2.88 by $0.41. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business's revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.8%. Axis Capital's payout ratio is presently 16.92%.

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.

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