Axis Capital Holdings Limited (NYSE:AXS) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 2.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,604,995 shares of the insurance provider's stock after selling 45,970 shares during the period. Jennison Associates LLC owned about 2.04% of Axis Capital worth $160,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Axis Capital by 0.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,359,471 shares of the insurance provider's stock valued at $136,273,000 after buying an additional 4,793 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Axis Capital by 21.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 516,327 shares of the insurance provider's stock worth $51,757,000 after purchasing an additional 90,069 shares in the last quarter. Signaturefd LLC increased its stake in shares of Axis Capital by 8.7% in the 1st quarter. Signaturefd LLC now owns 3,553 shares of the insurance provider's stock worth $356,000 after purchasing an additional 284 shares in the last quarter. CWM LLC increased its stake in shares of Axis Capital by 81.8% in the 1st quarter. CWM LLC now owns 55,721 shares of the insurance provider's stock worth $5,585,000 after purchasing an additional 25,063 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Axis Capital by 7.9% in the 1st quarter. Xponance Inc. now owns 3,700 shares of the insurance provider's stock worth $371,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Axis Capital Stock Performance

AXS traded down $0.87 on Monday, reaching $96.24. The stock had a trading volume of 381,030 shares, compared to its average volume of 627,076. The company has a market cap of $7.57 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. The business's 50-day moving average price is $101.20 and its two-hundred day moving average price is $96.09. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. Axis Capital Holdings Limited has a 12-month low of $70.16 and a 12-month high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the previous year, the company earned $3.07 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.83%. Axis Capital's payout ratio is 17.46%.

Analyst Ratings Changes

Several research firms have commented on AXS. Keefe, Bruyette & Woods increased their price objective on shares of Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wall Street Zen raised shares of Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Jefferies Financial Group raised their price objective on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Cowen reissued a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.25.

Axis Capital 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.