Merit Financial Group LLC Increases Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Merit Financial Group LLC lifted its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 140.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,897 shares of the insurance provider's stock after buying an additional 8,698 shares during the period. Merit Financial Group LLC's holdings in AXIS Capital were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in AXIS Capital in the first quarter worth approximately $33,000. GAMMA Investing LLC grew its holdings in shares of AXIS Capital by 11,415.5% during the 1st quarter. GAMMA Investing LLC now owns 185,745 shares of the insurance provider's stock worth $18,619,000 after purchasing an additional 184,132 shares during the period. Versant Capital Management Inc grew its holdings in shares of AXIS Capital by 203.9% during the 1st quarter. Versant Capital Management Inc now owns 2,039 shares of the insurance provider's stock worth $204,000 after purchasing an additional 1,368 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of AXIS Capital by 60.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,658 shares of the insurance provider's stock worth $2,451,000 after purchasing an additional 10,393 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in AXIS Capital by 197.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider's stock valued at $2,175,000 after buying an additional 16,298 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AXS. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group lifted their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Wells Fargo & Company boosted their target price on AXIS Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research note on Thursday, May 1st. Finally, Cowen restated a "buy" rating on shares of AXIS Capital in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.75.

AXIS Capital Stock Down 3.4%

AXS traded down $3.51 on Tuesday, hitting $100.54. 588,379 shares of the company were exchanged, compared to its average volume of 603,033. The firm has a 50-day moving average price of $98.27 and a two-hundred day moving average price of $94.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a twelve month low of $68.02 and a twelve month high of $107.19. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 3.96 and a beta of 0.83.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.07 earnings per share. On average, equities analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.75%. The ex-dividend date is Monday, June 30th. AXIS Capital's dividend payout ratio (DPR) is presently 17.46%.

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.