Dimensional Fund Advisors LP Purchases 299,573 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Dimensional Fund Advisors LP boosted its stake in Axis Capital by 8.9% in the first quarter, buying 299,573 additional shares and bringing its total holdings to 3.68 million shares, or about 4.99% of the company.
• Axis Capital reported strong quarterly earnings of $3.42 per share, topping analyst expectations, though revenue of $1.64 billion came in below estimates despite rising 8% year over year.
• The company also paid a quarterly dividend of $0.44 per share, while analysts remain generally bullish with an average rating of Moderate Buy and an average price target of $124.45.

Dimensional Fund Advisors LP increased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,682,238 shares of the insurance provider's stock after purchasing an additional 299,573 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.99% of Axis Capital worth $373,412,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Axis Capital by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 4,592,270 shares of the insurance provider's stock valued at $491,786,000 after purchasing an additional 1,083,579 shares in the last quarter. Norges Bank bought a new position in shares of Axis Capital during the 4th quarter valued at approximately $103,001,000. Freestone Grove Partners LP bought a new position in Axis Capital during the third quarter valued at $56,705,000. Arrowstreet Capital Limited Partnership grew its holdings in Axis Capital by 147.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,591 shares of the insurance provider's stock valued at $79,845,000 after purchasing an additional 443,761 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Axis Capital by 374.7% during the third quarter. Millennium Management LLC now owns 553,565 shares of the insurance provider's stock valued at $53,032,000 after buying an additional 436,944 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the sale, the director owned 46,347 shares of the company's stock, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by company insiders.

Axis Capital Stock Performance

Shares of AXS stock opened at $114.48 on Wednesday. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $116.63. The business's fifty day simple moving average is $104.17 and its 200-day simple moving average is $102.73. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. The company has a market cap of $8.44 billion, a PE ratio of 8.53, a PEG ratio of 3.36 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the firm earned $3.17 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Axis Capital's dividend payout ratio (DPR) is currently 13.11%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AXS shares. Wells Fargo & Company raised their price target on shares of Axis Capital from $119.00 to $134.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Bank of America reduced their price objective on shares of Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a research note on Tuesday, April 14th. Atlantic Securities set a $122.00 target price on Axis Capital in a report on Wednesday, July 15th. Mizuho increased their target price on Axis Capital from $137.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Axis Capital from $126.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $124.45.

Axis Capital Company 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.

Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axis Capital Holdings Limited (NYSE:AXS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.