Fieldview Capital Management LLC Purchases 13,034 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Fieldview Capital Management significantly increased its stake in Axis Capital Holdings, boosting its position by 220.5% in the fourth quarter to 18,946 shares worth about $2.03 million.
• Axis Capital reported better-than-expected quarterly earnings of $3.42 per share, though revenue of $1.64 billion came in below analyst estimates; the company also posted 8% year-over-year revenue growth.
• The insurer declared a quarterly dividend of $0.44 per share and currently has a consensus analyst rating of Moderate Buy with an average price target of $122.10.

Fieldview Capital Management LLC boosted its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 220.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,946 shares of the insurance provider's stock after acquiring an additional 13,034 shares during the period. Fieldview Capital Management LLC's holdings in Axis Capital were worth $2,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Porfolio Solutions LLC raised its stake in Axis Capital by 5.0% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider's stock valued at $202,000 after acquiring an additional 100 shares during the period. Truist Financial Corp raised its stake in Axis Capital by 2.3% in the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock valued at $492,000 after acquiring an additional 105 shares during the period. Stifel Financial Corp raised its stake in Axis Capital by 0.3% in the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider's stock valued at $3,975,000 after acquiring an additional 122 shares during the period. Evoke Wealth LLC raised its stake in Axis Capital by 6.0% in the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock valued at $304,000 after acquiring an additional 161 shares during the period. Finally, GW Henssler & Associates Ltd. raised its stake in Axis Capital by 6.8% in the 4th quarter. GW Henssler & Associates Ltd. now owns 2,536 shares of the insurance provider's stock valued at $272,000 after acquiring an additional 162 shares during the period. 93.44% of the stock is currently owned by institutional investors.

Insider Activity at Axis Capital

In other news, Director Henry B. Smith sold 2,542 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Axis Capital Trading Up 1.9%

Shares of AXS opened at $101.47 on Friday. The business's 50-day moving average price is $99.32 and its 200-day moving average price is $101.78. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $110.34. The stock has a market cap of $7.48 billion, a PE ratio of 7.56, a P/E/G ratio of 3.10 and a beta of 0.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Axis Capital Holdings Limited will post 13.25 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. Axis Capital's dividend payout ratio is currently 13.11%.

Analyst Ratings Changes

AXS has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods lowered their price objective on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Bank of America lowered their price objective on Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Mizuho set a $137.00 price target on Axis Capital in a research report on Monday, May 4th. Finally, Weiss Ratings cut Axis Capital from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 4th. Eight equities research 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, Axis Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.10.

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.

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