M&T Bank Corp Makes New Investment in Axis Capital Holdings Limited (NYSE:AXS)

M&T Bank Corp bought a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,701 shares of the insurance provider's stock, valued at approximately $271,000.

A number of other large investors have also added to or reduced their stakes in AXS. Norges Bank acquired a new stake in shares of Axis Capital during the 4th quarter worth about $88,147,000. FIL Ltd acquired a new position in shares of Axis Capital in the fourth quarter valued at approximately $43,893,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Axis Capital in the fourth quarter valued at approximately $37,775,000. Causeway Capital Management LLC grew its holdings in Axis Capital by 79.1% during the fourth quarter. Causeway Capital Management LLC now owns 728,331 shares of the insurance provider's stock worth $64,545,000 after acquiring an additional 321,608 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in Axis Capital during the first quarter worth $26,499,000. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AXS shares. Wall Street Zen raised Axis Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Jefferies Financial Group lifted 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. Cowen reiterated a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Wells Fargo & Company increased their price objective on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $108.25.

Axis Capital Price Performance

NYSE:AXS traded down $0.87 during mid-day trading on Monday, reaching $96.24. 381,030 shares of the stock were exchanged, compared to its average volume of 627,076. Axis Capital Holdings Limited has a 1-year low of $70.16 and a 1-year high of $107.19. The firm has a market capitalization of $7.57 billion, a PE ratio of 9.55, a PEG ratio of 1.17 and a beta of 0.81. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average price of $101.20 and a 200 day moving average price of $96.09.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating 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 19.01% and a net margin of 14.54%. The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.07 earnings per share. Research analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were given a dividend of $0.44 per share. The ex-dividend date was Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. Axis Capital's dividend payout ratio is currently 17.46%.

Axis Capital Company 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.