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

Merit Financial Group LLC boosted its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 140.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,897 shares of the insurance provider's stock after purchasing an additional 8,698 shares during the quarter. Merit Financial Group LLC's holdings in AXIS Capital were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Summit Trail Advisors LLC bought a new stake in shares of AXIS Capital during the fourth quarter valued at approximately $300,000. Elevate Capital Advisors LLC bought a new stake in shares of AXIS Capital during the fourth quarter valued at approximately $1,840,000. JPMorgan Chase & Co. increased its holdings in shares of AXIS Capital by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 133,675 shares of the insurance provider's stock valued at $11,846,000 after acquiring an additional 4,303 shares in the last quarter. Barclays PLC increased its holdings in shares of AXIS Capital by 53.6% during the third quarter. Barclays PLC now owns 48,964 shares of the insurance provider's stock valued at $3,898,000 after acquiring an additional 17,082 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of AXIS Capital during the fourth quarter valued at approximately $246,000. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXS has been the subject of several recent research reports. UBS Group boosted their price objective 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 AXIS Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Cowen reaffirmed a "buy" rating on shares of AXIS Capital in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their price objective on AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, 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 note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

AXIS Capital Price Performance

NYSE AXS traded up $2.07 during trading on Friday, reaching $107.07. The company's stock had a trading volume of 1,085,788 shares, compared to its average volume of 601,626. The stock has a market capitalization of $8.42 billion, a PE ratio of 8.67, a P/E/G ratio of 3.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a fifty day moving average of $98.18 and a 200 day moving average of $94.08. AXIS Capital Holdings Limited has a one year low of $68.02 and a one year high of $107.19.

AXIS Capital (NYSE:AXS - Get Free Report) last posted 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 return on equity of 18.89% and a net margin of 18.16%. The firm 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 business earned $3.07 EPS. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors 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 1.64%. The ex-dividend date is Monday, June 30th. AXIS Capital's dividend payout ratio 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.