Globeflex Capital L P Purchases Shares of 11,158 Axis Capital Holdings Limited $AXS

Key Points

• Globeflex Capital purchased 11,158 shares of Axis Capital, valued at approximately $1.2 million. Institutional investors collectively own 93.44% of the insurer’s outstanding stock.
• Axis Capital reported quarterly revenue of $1.75 billion, up 7.4% year over year, but earnings per share of $2.84 fell short of the $3.25 consensus estimate.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $120.50, despite several recent target-price reductions.

Globeflex Capital L P purchased a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,158 shares of the insurance provider's stock, valued at approximately $1,199,000.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in 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 buying an additional 1,083,579 shares during the period. Norges Bank bought a new position in Axis Capital in the fourth quarter worth approximately $103,001,000. Freestone Grove Partners LP bought a new position in Axis Capital in the third quarter worth approximately $56,705,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Axis Capital by 147.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,591 shares of the insurance provider's stock worth $79,845,000 after acquiring an additional 443,761 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Axis Capital by 374.7% during the 3rd quarter. Millennium Management LLC now owns 553,565 shares of the insurance provider's stock worth $53,032,000 after acquiring an additional 436,944 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Axis Capital Stock Performance

NYSE AXS opened at $99.38 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $119.99. The business has a 50-day moving average price of $107.42 and a 200-day moving average price of $103.11. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 4.31 and a beta of 0.50.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.41). Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the business posted $3.29 EPS. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Axis Capital Holdings Limited will post 12.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXS has been the subject of several analyst reports. BMO Capital Markets restated a "market perform" rating on shares of Axis Capital in a research note on Wednesday, July 29th. UBS Group lowered their target price on Axis Capital from $131.00 to $126.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Weiss Ratings lowered Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, August 18th. Wells Fargo & Company reduced their price target on Axis Capital from $134.00 to $126.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Finally, Mizuho decreased their price objective on Axis Capital from $142.00 to $130.00 and set an "outperform" rating on the stock in a research note on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.50.

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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