Public Employees Retirement System of Ohio boosted its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 160.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,126 shares of the insurance provider's stock after buying an additional 51,201 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.11% of Axis Capital worth $8,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also bought and sold shares of AXS. Royal Bank of Canada boosted its position in Axis Capital by 12.4% in the first quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider's stock valued at $6,361,000 after buying an additional 7,023 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Axis Capital by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider's stock valued at $20,605,000 after purchasing an additional 12,680 shares during the last quarter. Jane Street Group LLC grew its position in Axis Capital by 86.2% during the 1st quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider's stock worth $4,739,000 after purchasing an additional 21,892 shares during the period. Focus Partners Wealth grew its position in Axis Capital by 42.1% during the 1st quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider's stock worth $1,044,000 after purchasing an additional 3,085 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in shares of Axis Capital by 33.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,924 shares of the insurance provider's stock valued at $407,000 after buying an additional 987 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Axis Capital from $119.00 to $134.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Mizuho upped their price objective on shares of Axis Capital from $137.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. UBS Group increased their price objective on shares of Axis Capital from $129.00 to $131.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Atlantic Securities set a $122.00 target price on shares of Axis Capital in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Axis Capital has a consensus rating of "Moderate Buy" and an average target price of $124.45.
Read Our Latest Analysis on AXS
Axis Capital Stock Up 0.6%
Shares of AXS opened at $117.20 on Tuesday. The stock has a 50 day moving average price of $105.53 and a 200 day moving average price of $103.03. Axis Capital Holdings Limited has a one year low of $88.07 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 3.40 and a beta of 0.49.
Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $3.17 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts forecast that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.
Axis Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Axis Capital's dividend payout ratio (DPR) is currently 13.11%.
Insider Buying and Selling at Axis Capital
In related news, Director Henry B. Smith sold 2,542 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.
Axis Capital Company Profile
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Free Report)
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.
Further Reading
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