Great Lakes Advisors LLC Invests $3.10 Million in Axis Capital Holdings Limited $AXS

Key Points

• Great Lakes Advisors bought 28,847 shares of Axis Capital valued at approximately $3.10 million, while institutional investors and hedge funds collectively own 93.44% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $120.50, despite some recent target-price cuts and one downgrade to “strong sell.”
• Axis Capital reported quarterly EPS of $2.84, missing expectations of $3.25, while revenue reached $1.75 billion and increased 7.4% year over year.

Great Lakes Advisors LLC bought a new position 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 Securities & Exchange Commission. The firm bought 28,847 shares of the insurance provider's stock, valued at approximately $3,099,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in shares of Axis Capital during the fourth quarter worth approximately $30,000. Assetmark Inc. raised its holdings in shares of Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Axis Capital in the first quarter valued at about $43,000. Fideuram Asset Management Ireland dac bought a new position in shares of Axis Capital during the fourth quarter valued at about $47,000. Finally, DV Equities LLC purchased a new position in Axis Capital during the fourth quarter worth about $54,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXS has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a "market perform" rating on shares of Axis Capital in a research report on Wednesday, July 29th. Zacks Research downgraded Axis Capital from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods reduced their target price on Axis Capital from $131.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. Wells Fargo & Company decreased 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, Weiss Ratings lowered Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.50.

Axis Capital Stock Up 0.4%

AXS opened at $98.91 on Friday. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $119.99. The company's 50-day moving average price is $107.52 and its two-hundred day moving average price is $103.18. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 4.30 and a beta of 0.50. 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 (NYSE:AXS - Get Free Report) last issued its quarterly 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). The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.74 billion. Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.29 EPS. As a group, equities analysts expect that Axis Capital Holdings Limited will post 12.39 earnings per share for the current year.

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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