NorthCrest Asset Manangement LLC Takes $326,000 Position in AXIS Capital Holdings Limited (NYSE:AXS)

NorthCrest Asset Manangement LLC bought a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,253 shares of the insurance provider's stock, valued at approximately $326,000.

A number of other institutional investors have also recently added to or reduced their stakes in AXS. NBC Securities Inc. purchased a new position in AXIS Capital in the 1st quarter valued at about $33,000. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital in the fourth quarter valued at about $53,000. EverSource Wealth Advisors LLC boosted its holdings in AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 285 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in AXIS Capital during the 4th quarter valued at approximately $60,000. Finally, Assetmark Inc. purchased a new stake in AXIS Capital during the 4th quarter worth approximately $70,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Stock Performance

Shares of NYSE AXS traded up $0.44 during midday trading on Monday, reaching $103.43. 634,052 shares of the company traded hands, compared to its average volume of 606,411. The stock has a 50-day moving average price of $99.09 and a 200 day moving average price of $94.46. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 8.37, a PEG 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. AXIS Capital Holdings Limited has a 52 week low of $68.22 and a 52 week high of $107.19.

AXIS Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.53. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm earned $3.07 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business 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 $0.44 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.70%. AXIS Capital's dividend payout ratio is currently 17.46%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group increased their target price on AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wall Street Zen raised AXIS Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Cowen restated a "buy" rating on shares of AXIS Capital in a research report on Wednesday, May 14th. UBS Group increased their target price on AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, AXIS Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.75.

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.