Knights of Columbus Asset Advisors LLC Raises Stake in Axis Capital Holdings Limited (NYSE:AXS)

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Axis Capital Holdings by 5.2%, acquiring a total of 125,110 shares valued at approximately $12.54 million, making it the fund's 26th largest holding.
• Axis Capital reported earnings per share of $3.17 for the recent quarter, surpassing analyst expectations, while revenues for the quarter reached $1.52 billion, up 6.8% year-over-year.
• The company also declared a quarterly dividend of $0.44 per share, with an annualized yield of 1.83% and a payout ratio of 17.46%.

Knights of Columbus Asset Advisors LLC increased its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 5.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 125,110 shares of the insurance provider's stock after buying an additional 6,193 shares during the quarter. Axis Capital accounts for approximately 0.9% of Knights of Columbus Asset Advisors LLC's portfolio, making the stock its 26th largest holding. Knights of Columbus Asset Advisors LLC owned 0.16% of Axis Capital worth $12,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXS. Janney Montgomery Scott LLC raised its holdings in shares of Axis Capital by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider's stock worth $671,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC raised its holdings in shares of Axis Capital by 14.9% in the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after purchasing an additional 240 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Axis Capital by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 133,675 shares of the insurance provider's stock worth $11,846,000 after purchasing an additional 4,303 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Axis Capital by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 314,372 shares of the insurance provider's stock worth $31,513,000 after purchasing an additional 8,443 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Axis Capital in the 4th quarter worth approximately $319,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Trading Down 1.3%

Shares of Axis Capital stock opened at $96.04 on Friday. Axis Capital Holdings Limited has a 1 year low of $70.16 and a 1 year high of $107.19. The firm has a market cap of $7.55 billion, a PE ratio of 9.53, a PEG ratio of 1.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50 day simple moving average of $100.94 and a two-hundred day simple moving average of $96.21.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.83 billion. During the same period in the previous year, the business posted $3.07 earnings per share. Axis Capital's revenue for the quarter was up 6.8% on a year-over-year basis. Analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Monday, June 30th. Axis Capital's payout ratio is currently 17.46%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AXS. Jefferies Financial Group lifted their price target on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Axis Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.25.

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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