Dimensional Fund Advisors LP Sells 538,180 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Axis Capital Holdings by 13% to approximately $361.47 million, impacting its ownership to 4.58% with 3,606,067 shares.
• Despite a decrease in holdings from some investors, institutional ownership remains high at 93.44% of Axis Capital's stock, indicating strong confidence in the company among larger investors.
• Axis Capital recently reported earnings of $3.29 per share, surpassing estimates, and showed a year-over-year revenue growth of 12.6%, contributing to an average analyst rating of "Moderate Buy."

Dimensional Fund Advisors LP lessened its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 13.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,606,067 shares of the insurance provider's stock after selling 538,180 shares during the period. Dimensional Fund Advisors LP owned approximately 4.58% of Axis Capital worth $361,465,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Axis Capital by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 10,883 shares of the insurance provider's stock valued at $964,000 after purchasing an additional 2,021 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Axis Capital by 7.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 79,653 shares of the insurance provider's stock valued at $7,059,000 after buying an additional 5,624 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Axis Capital by 14.4% in the fourth quarter. Bank of Montreal Can now owns 4,896 shares of the insurance provider's stock valued at $434,000 after purchasing an additional 616 shares in the last quarter. Mariner LLC boosted its position in shares of Axis Capital by 10.4% during the fourth quarter. Mariner LLC now owns 17,163 shares of the insurance provider's stock valued at $1,521,000 after buying an additional 1,620 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Axis Capital by 10.3% during the fourth quarter. XTX Topco Ltd now owns 7,184 shares of the insurance provider's stock worth $637,000 after buying an additional 670 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Axis Capital Stock Performance

Shares of AXS stock traded up $1.0470 on Thursday, hitting $98.6570. 134,737 shares of the stock were exchanged, compared to its average volume of 705,441. The firm's 50 day moving average is $98.29 and its two-hundred day moving average is $97.11. Axis Capital Holdings Limited has a one year low of $74.68 and a one year high of $107.19. The firm has a market capitalization of $7.71 billion, a PE ratio of 9.49, a P/E/G ratio of 1.41 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, topping 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 quarter last year, the company earned $2.93 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. Sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axis Capital news, insider Daniel J. Draper sold 2,200 shares of Axis Capital stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $96.00, for a total transaction of $211,200.00. Following the completion of the transaction, the insider owned 20,574 shares of the company's stock, valued at $1,975,104. The trade was a 9.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AXS shares. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group reissued a "buy" rating and set a $119.00 target price (up previously from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price on Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $111.43.

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.