Informed Momentum Co LLC Invests $3.88 Million in Axis Capital Holdings Limited (NYSE:AXS)

Key Points

• Informed Momentum Co LLC has acquired a new position in Axis Capital Holdings, purchasing 38,737 shares valued at approximately $3.88 million in Q1.
• Axis Capital recently reported an earnings per share (EPS) of $3.29 for the last quarter, exceeding analysts' expectations of $2.88.
• Wall Street analysts have generally rated Axis Capital as a Moderate Buy, with an average price target of $111.43 following multiple positive ratings from various firms.

Informed Momentum Co LLC purchased a new position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,737 shares of the insurance provider's stock, valued at approximately $3,883,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in shares of Axis Capital during the first quarter worth about $33,000. IFP Advisors Inc grew its position in shares of Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after purchasing an additional 540 shares in the last quarter. Private Trust Co. NA grew its position in shares of Axis Capital by 36.9% during the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after purchasing an additional 319 shares in the last quarter. US Bancorp DE grew its position in shares of Axis Capital by 34.3% during the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Axis Capital by 14.9% during the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXS shares. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research report on Thursday, May 1st. Wall Street Zen cut 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 price target (up previously from $115.00) on shares of Axis Capital in a report on Monday, August 4th. Cowen restated a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods raised their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $111.43.

Axis Capital Price Performance

NYSE AXS traded down $0.76 during trading on Thursday, hitting $97.35. 602,485 shares of the stock traded hands, compared to its average volume of 712,269. The company has a market capitalization of $7.61 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.83. The firm has a 50-day simple moving average of $99.01 and a 200-day simple moving average of $96.93. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a 12-month low of $74.05 and a 12-month high of $107.19.

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

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were issued a $0.44 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. Axis Capital's payout ratio is 16.92%.

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.