Pallas Capital Advisors LLC Has $2.68 Million Stock Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Pallas Capital Advisors LLC increased its stake in Axis Capital Holdings by 13.2% during the second quarter, owning a total of 25,822 shares worth approximately $2.68 million.
• Insider Daniel J. Draper sold 4,305 shares of Axis Capital, reducing his position by 20.92%, while Director Henry B. Smith sold 3,500 shares, resulting in a 6.89% reduction in his holdings.
• Axis Capital reported $3.29 earnings per share for the last quarter, surpassing estimates, while analysts have set an average price target of $111.43 for the stock, which has received a consensus rating of "Moderate Buy."

Pallas Capital Advisors LLC boosted its stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,822 shares of the insurance provider's stock after acquiring an additional 3,005 shares during the quarter. Pallas Capital Advisors LLC's holdings in Axis Capital were worth $2,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of AXS. NBC Securities Inc. bought a new stake in Axis Capital during the first quarter worth approximately $33,000. IFP Advisors Inc increased its stake in shares of Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after acquiring an additional 540 shares during the period. Parallel Advisors LLC lifted its stake in shares of Axis Capital by 34.0% during the second quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider's stock valued at $106,000 after buying an additional 259 shares during the period. Private Trust Co. NA increased its stake in Axis Capital by 36.9% during the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after buying an additional 319 shares during the period. Finally, US Bancorp DE boosted 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 valued at $163,000 after buying an additional 416 shares during the period. Institutional investors own 93.44% of the company's stock.

Axis Capital Trading Down 1.1%

NYSE AXS traded down $1.05 on Friday, hitting $95.24. 1,643,155 shares of the stock were exchanged, compared to its average volume of 522,815. The company's 50-day moving average price is $96.79 and its two-hundred day moving average price is $97.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. Axis Capital Holdings Limited has a 52-week low of $77.21 and a 52-week high of $107.19. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 1.39 and a beta of 0.77.

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

Axis Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, September 30th. Axis Capital's dividend payout ratio is currently 16.92%.

Insider Activity at Axis Capital

In related news, Director Henry B. Smith sold 3,500 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of the transaction, the director owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Draper sold 4,305 shares of Axis Capital stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the sale, the insider owned 16,269 shares of the company's stock, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,205 shares of company stock worth $1,188,048 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AXS shares. Wells Fargo & Company increased their price target on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, UBS Group reiterated a "buy" rating and set a $119.00 price objective (up from $115.00) on shares of Axis Capital in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Axis Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.43.

About Axis Capital

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.