Axis Capital Holdings Limited (NYSE:AXS) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Axis Capital Holdings Limited by 119.0%, owning 15,075 shares valued at approximately $1.51 million.
• Axis Capital reported $3.29 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.88, while revenue increased by 12.6% year-over-year.
• The company's recent dividend was $0.44 per share, equating to an annualized yield of 1.9%, with a current dividend payout ratio of 16.92%.

Mackenzie Financial Corp raised its stake in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 119.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,075 shares of the insurance provider's stock after purchasing an additional 8,190 shares during the quarter. Mackenzie Financial Corp's holdings in Axis Capital were worth $1,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 buying an additional 540 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Axis Capital in the fourth quarter worth $88,000. Private Trust Co. NA raised its holdings in Axis Capital by 36.9% in the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after acquiring an additional 319 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Axis Capital by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock valued at $186,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Stock Performance

Shares of NYSE:AXS traded up $0.92 during trading on Friday, hitting $96.82. 193,493 shares of the company traded hands, compared to its average volume of 713,432. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.47 and a beta of 0.83. Axis Capital Holdings Limited has a one year low of $72.85 and a one year high of $107.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The business's fifty day moving average is $99.61 and its 200-day moving average is $96.69.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate 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 business earned $2.93 EPS. As a group, equities analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were given a $0.44 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital's dividend payout ratio (DPR) is currently 16.92%.

Analyst Ratings Changes

Several research firms have recently weighed in on AXS. Wall Street Zen downgraded shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. UBS Group restated a "buy" rating and set a $119.00 price objective (up previously from $115.00) on shares of Axis Capital in a research note on Monday. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Jefferies Financial Group boosted their price target on Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Axis Capital has a consensus rating of "Moderate Buy" and an average 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.