Lingohr Asset Management GmbH Cuts Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Lingohr Asset Management GmbH has significantly reduced its holdings in Axis Capital Holdings Limited by 84.3%, now owning only 10,355 shares, representing 1.9% of its investment portfolio.
• Several institutional investors have increased their positions in Axis Capital, including Woodline Partners LP, which raised its stake by 68.7% in the first quarter.
• Axis Capital reported an earnings per share of $3.29 in its last earnings release, surpassing analyst expectations of $2.88, while revenue reached $1.63 billion for the quarter.

Lingohr Asset Management GmbH reduced its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 84.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,355 shares of the insurance provider's stock after selling 55,514 shares during the quarter. Axis Capital comprises about 1.9% of Lingohr Asset Management GmbH's investment portfolio, making the stock its 12th biggest position. Lingohr Asset Management GmbH's holdings in Axis Capital were worth $1,075,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its position 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 buying an additional 145 shares during the period. GAMMA Investing LLC raised its position 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 buying an additional 240 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Axis Capital in the 1st quarter worth $2,362,000. Bank of New York Mellon Corp raised its position 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 buying an additional 8,443 shares during the period. Finally, Woodline Partners LP raised its position in shares of Axis Capital by 68.7% in the 1st quarter. Woodline Partners LP now owns 370,054 shares of the insurance provider's stock worth $37,094,000 after buying an additional 150,652 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXS. Keefe, Bruyette & Woods raised their price objective on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company raised their price objective on Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, UBS Group reissued a "buy" rating and issued a $119.00 price objective (up from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Axis Capital currently has an average rating of "Moderate Buy" and a consensus target price of $111.43.

Insider Transactions at Axis Capital

In other news, insider Daniel J. Draper sold 4,305 shares of Axis Capital stock in a transaction dated Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of Axis Capital stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $98.67, for a total value of $345,345.00. Following the sale, the director directly owned 47,295 shares in the company, valued at approximately $4,666,597.65. The trade was a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,205 shares of company stock worth $1,188,048. Corporate insiders own 0.70% of the company's stock.

Axis Capital Stock Down 0.2%

Shares of NYSE AXS opened at $99.14 on Monday. Axis Capital Holdings Limited has a 1 year low of $76.46 and a 1 year high of $107.19. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69. The stock's 50-day simple moving average is $97.02 and its 200-day simple moving average is $97.91.

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

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.

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