Numerai GP LLC Invests $3.37 Million in Axis Capital Holdings Limited $AXS

Key Points

• Numerai GP LLC opened a new position in Axis Capital, buying 35,191 shares in the third quarter valued at about $3.37 million.
• Axis beat earnings expectations in its latest quarter, reporting $3.25 EPS vs. $2.97 consensus and $1.73 billion in revenue (up 17.8% year-over-year), with a strong ROE of 18.72% and a 15.37% net margin.
• Dividend and analyst view: Axis declared a $0.44 quarterly dividend (annualized $1.76, ~1.7% yield), and analysts maintain a consensus "Moderate Buy" with a $124 target as several firms raised price targets to as high as $130.

Numerai GP LLC acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,191 shares of the insurance provider's stock, valued at approximately $3,371,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in shares of Axis Capital in the 3rd quarter valued at about $29,000. AlphaCore Capital LLC purchased a new position in shares of Axis Capital in the 2nd quarter worth approximately $37,000. Elevation Point Wealth Partners LLC bought a new position in shares of Axis Capital during the 2nd quarter worth approximately $41,000. Abich Financial Wealth Management LLC purchased a new stake in Axis Capital during the third quarter valued at approximately $43,000. Finally, Allworth Financial LP lifted its position in Axis Capital by 145.1% during the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider's stock valued at $60,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Axis Capital Trading Up 0.0%

Shares of Axis Capital stock opened at $100.92 on Tuesday. The stock has a market cap of $7.46 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The firm has a fifty day moving average price of $102.88 and a 200 day moving average price of $100.39. Axis Capital Holdings Limited has a 1 year low of $84.81 and a 1 year high of $110.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.28. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The firm's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $3.38 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. Axis Capital's payout ratio is presently 14.21%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AXS shares. Keefe, Bruyette & Woods upped their price target on Axis Capital from $121.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 6th. The Goldman Sachs Group reissued a "neutral" rating and issued a $110.00 price objective on shares of Axis Capital in a research report on Wednesday, January 7th. Weiss Ratings lowered Axis Capital from a "buy (a-)" rating to a "buy (b)" rating in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on Axis Capital from $125.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Finally, Roth Mkm reissued a "buy" rating and issued a $120.00 price target on shares of Axis Capital in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

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.

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