MGB Wealth Management LLC Purchases Shares of 6,571 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 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,571 shares of the insurance provider's stock, valued at approximately $658,000.

Several other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Axis Capital in the 1st quarter worth approximately $33,000. IFP Advisors Inc raised its holdings in shares of Axis Capital by 1,542.9% in 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 period. Aster Capital Management DIFC Ltd bought a new stake in shares of Axis Capital in the 4th quarter worth approximately $88,000. Private Trust Co. NA raised its holdings in shares of Axis Capital by 36.9% in the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after purchasing an additional 319 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Axis Capital by 34.3% in the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after purchasing an additional 416 shares during the period. Institutional investors own 93.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AXS. Wells Fargo & Company lifted their price target on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wall Street Zen cut shares of Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Cowen reissued a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $111.43.

Axis Capital Price Performance

Shares of AXS traded up $0.54 during mid-day trading on Friday, reaching $96.44. 796,605 shares of the stock traded hands, compared to its average volume of 723,369. The firm has a fifty day moving average price of $99.46 and a 200 day moving average price of $96.79. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.49 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a 1 year low of $72.85 and a 1 year high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.41. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business earned $2.93 EPS. The business's revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

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

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.