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Massachusetts Financial Services Co. MA Acquires 95,207 Shares of Axis Capital Holdings Limited $AXS

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Key Points

  • Massachusetts Financial Services Co. MA raised its stake in Axis Capital by 27.6%, buying 95,207 shares to hold 439,989 shares valued at about $47.12 million (roughly 0.57% ownership).
  • Axis Capital beat Q4 estimates, reporting $3.25 EPS versus $2.97 expected and $1.73 billion revenue (up 17.8% year‑over‑year) with an 18.7% return on equity.
  • Axis announced a quarterly dividend of $0.44 per share (annualized $1.76, ~1.8% yield; ex‑dividend March 31), and analysts show a "Moderate Buy" consensus with an average price target of $122.80.
  • Five stocks to consider instead of Axis Capital.

Massachusetts Financial Services Co. MA grew its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 439,989 shares of the insurance provider's stock after buying an additional 95,207 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.57% of Axis Capital worth $47,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AXS. Freestone Grove Partners LP bought a new position in shares of Axis Capital during the third quarter valued at approximately $56,705,000. Millennium Management LLC grew its stake in shares of Axis Capital by 374.7% during the third quarter. Millennium Management LLC now owns 553,565 shares of the insurance provider's stock valued at $53,032,000 after buying an additional 436,944 shares during the last quarter. Woodline Partners LP grew its stake in shares of Axis Capital by 196.5% during the third quarter. Woodline Partners LP now owns 484,619 shares of the insurance provider's stock valued at $46,426,000 after buying an additional 321,145 shares during the last quarter. Swedbank AB grew its stake in shares of Axis Capital by 23.9% during the third quarter. Swedbank AB now owns 1,194,754 shares of the insurance provider's stock valued at $114,457,000 after buying an additional 230,494 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Axis Capital by 30.3% during the third quarter. Allianz Asset Management GmbH now owns 970,411 shares of the insurance provider's stock valued at $92,965,000 after buying an additional 225,569 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Axis Capital Stock Down 0.7%

Axis Capital stock opened at $99.36 on Wednesday. The business has a fifty day moving average of $102.24 and a two-hundred day moving average of $100.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.36 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.98 and a beta of 0.63. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $110.34.

Axis Capital (NYSE:AXS - Get Free Report) last posted its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.28. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.Axis Capital's revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.38 earnings per share. On average, analysts forecast that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. Axis Capital's dividend payout ratio is currently 14.21%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXS. Royal Bank Of Canada upped their target price on Axis Capital from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods lowered their price target on Axis Capital from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Wells Fargo & Company boosted their price target on Axis Capital from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. UBS Group reiterated a "buy" rating on shares of Axis Capital in a report on Monday, February 2nd. Finally, Bank of America lowered their price target on Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $122.80.

Read Our Latest Stock Analysis on Axis Capital

Axis Capital Profile

(Free Report)

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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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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