MGB Wealth Management LLC Buys New Stake in Axis Capital Holdings Limited (NYSE:AXS)

Key Points

• MGB Wealth Management LLC has acquired a new stake in Axis Capital Holdings Limited worth approximately $658,000 during the first quarter, purchasing 6,571 shares of the company.
• Several hedge funds have also increased their positions in Axis Capital, with notable adjustments including Wells Fargo & Company boosting its holdings by 22.8% and JPMorgan Chase & Co. by 3.3% during the fourth quarter.
• Axis Capital recently reported quarterly earnings of $3.29 per share, beating expectations, with annualized dividends recently declared at $1.76, yielding 1.9% for shareholders.

MGB Wealth Management LLC bought a new position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,571 shares of the insurance provider's stock, valued at approximately $658,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in Axis Capital during the 1st quarter valued at $33,000. IFP Advisors Inc lifted its stake in shares of Axis Capital by 1,542.9% during the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after purchasing an additional 540 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Axis Capital during the fourth quarter valued at about $88,000. Private Trust Co. NA grew its stake 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 purchasing an additional 319 shares during the last quarter. Finally, US Bancorp DE grew its stake in Axis Capital by 34.3% in the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

Axis Capital Stock Performance

Shares of NYSE:AXS traded up $0.69 on Thursday, hitting $95.97. 911,665 shares of the company were exchanged, compared to its average volume of 723,676. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average price is $99.61 and its 200 day moving average price is $96.69. Axis Capital Holdings Limited has a 1-year low of $71.80 and a 1-year high of $107.19. The firm has a market capitalization of $7.50 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 1.47 and a beta of 0.83.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.63 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 EPS. Sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on AXS. Jefferies Financial Group increased their price target on shares of Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Wall Street Zen cut shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price target on Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, JMP Securities reissued a "market perform" rating on shares of Axis Capital in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $111.43.

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.