Massachusetts Financial Services Co. MA Acquires 90,069 Shares of Axis Capital Holdings Limited (NYSE:AXS)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,327 shares of the insurance provider's stock after acquiring an additional 90,069 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.66% of Axis Capital worth $51,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXS. NBC Securities Inc. purchased a new position in shares of Axis Capital during the first quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Axis Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 285 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Axis Capital by 21.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider's stock worth $80,000 after buying an additional 160 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Axis Capital during the fourth quarter worth approximately $88,000. Finally, Private Trust Co. NA increased its position in Axis Capital by 36.9% during the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Stock Performance

Shares of Axis Capital stock traded down $0.87 during trading on Monday, hitting $96.24. 381,030 shares of the stock were exchanged, compared to its average volume of 627,076. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. The company has a fifty day moving average price of $101.20 and a 200-day moving average price of $96.09. Axis Capital Holdings Limited has a 1-year low of $70.16 and a 1-year high of $107.19. 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 (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (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 period in the prior year, the company earned $3.07 EPS. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders 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 dividend yield of 1.83%. Axis Capital's dividend payout ratio is currently 17.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group raised their target price on Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Wall Street Zen raised shares of Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price objective on Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.