Forum Financial Management LP Purchases New Position in AXIS Capital Holdings Limited (NYSE:AXS)

Forum Financial Management LP acquired a new position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,870 shares of the insurance provider's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital during the fourth quarter valued at approximately $53,000. EverSource Wealth Advisors LLC grew its holdings in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 285 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in AXIS Capital during the fourth quarter valued at $60,000. Assetmark Inc. acquired a new position in AXIS Capital during the fourth quarter valued at $70,000. Finally, Venturi Wealth Management LLC raised its position in shares of AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock worth $74,000 after acquiring an additional 185 shares during the period. Institutional investors own 93.44% of the company's stock.

AXIS Capital Stock Performance

AXIS Capital stock traded up $1.35 during midday trading on Friday, reaching $103.90. 640,228 shares of the stock traded hands, compared to its average volume of 593,723. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $97.65 and a two-hundred day moving average price of $93.44. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 3.96 and a beta of 0.82. AXIS Capital Holdings Limited has a fifty-two week low of $68.02 and a fifty-two week high of $104.16.

AXIS Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.07 EPS. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.69%. AXIS Capital's payout ratio is currently 17.46%.

Insider Buying and Selling

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares of the company's stock, valued at $224,786,435.50. The trade was a 47.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AXS shares. Cowen reaffirmed a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Wall Street Zen raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods upped their price objective on shares of AXIS Capital from $114.00 to $118.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Jefferies Financial Group increased their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, JMP Securities restated a "market perform" rating on shares of AXIS Capital in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.75.

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.