Hsbc Holdings PLC Sells 9,139 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Hsbc Holdings PLC reduced its stake in Axis Capital Holdings by 48.4%, now holding 9,731 shares valued at $973,000.
• Institutional investors control 93.44% of Axis Capital's stock, with several hedge funds adjusting their positions recently.
• Axis Capital reported a 12.6% year-over-year revenue increase, surpassing earnings expectations with $3.29 EPS in its latest quarter.

Hsbc Holdings PLC decreased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 48.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,731 shares of the insurance provider's stock after selling 9,139 shares during the period. Hsbc Holdings PLC's holdings in Axis Capital were worth $973,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AXS. Janus Henderson Group PLC grew its stake in shares of Axis Capital by 1.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,042,925 shares of the insurance provider's stock worth $181,045,000 after buying an additional 20,976 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Axis Capital by 0.4% in the first quarter. Victory Capital Management Inc. now owns 1,359,471 shares of the insurance provider's stock worth $136,273,000 after acquiring an additional 4,793 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Axis Capital by 11.6% in the fourth quarter. Nuveen Asset Management LLC now owns 1,107,967 shares of the insurance provider's stock worth $98,188,000 after acquiring an additional 114,768 shares in the last quarter. LSV Asset Management grew its stake in shares of Axis Capital by 5.3% in the first quarter. LSV Asset Management now owns 693,424 shares of the insurance provider's stock worth $69,509,000 after acquiring an additional 35,024 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Axis Capital by 21.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 516,327 shares of the insurance provider's stock valued at $51,757,000 after acquiring an additional 90,069 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Axis Capital Price Performance

Shares of Axis Capital stock traded up $0.88 during trading on Thursday, reaching $99.17. 382,668 shares of the stock traded hands, compared to its average volume of 554,709. Axis Capital Holdings Limited has a 52-week low of $74.68 and a 52-week high of $107.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The business has a fifty day simple moving average of $97.38 and a two-hundred day simple moving average of $97.66. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 1.43 and a beta of 0.77.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.41. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%.The firm's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 earnings per share. Sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Insider Buying and Selling

In related news, Director Henry B. Smith sold 3,500 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of the transaction, the director directly owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Draper sold 4,305 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the sale, the insider directly owned 16,269 shares in the company, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,205 shares of company stock valued at $1,188,048 over the last quarter. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AXS shares. Cowen restated a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Keefe, Bruyette & Woods upped their price target on Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group restated a "buy" rating and set a $119.00 target price (up previously from $115.00) on shares of Axis Capital in a research note on Monday, August 4th. Finally, Wells Fargo & Company increased their price target on Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.43.

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.