Robeco Institutional Asset Management B.V. Sells 79,235 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Robeco Institutional Asset Management reduced its Axis Capital stake by 17.5%, selling 79,235 shares during the third quarter and retaining 373,373 shares valued at approximately $35.2 million.
• Institutional investors own 93.44% of Axis Capital, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $119.08.
• Axis Capital reported quarterly EPS of $2.84, below the $3.25 consensus estimate, despite revenue rising 7.4% year over year; the company also pays a quarterly dividend of $0.44, yielding about 1.7% annually.

Robeco Institutional Asset Management B.V. decreased its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,373 shares of the insurance provider's stock after selling 79,235 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.51% of Axis Capital worth $35,172,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AXS. Entropy Technologies LP increased its holdings in Axis Capital by 31.4% in the first quarter. Entropy Technologies LP now owns 53,905 shares of the insurance provider's stock valued at $5,467,000 after buying an additional 12,896 shares during the last quarter. Hsbc Holdings PLC raised its stake in Axis Capital by 1,102.3% in the first quarter. Hsbc Holdings PLC now owns 65,575 shares of the insurance provider's stock valued at $6,636,000 after buying an additional 60,121 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Axis Capital by 25.7% during the 1st quarter. California State Teachers Retirement System now owns 92,474 shares of the insurance provider's stock worth $9,378,000 after buying an additional 18,934 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Axis Capital by 160.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 83,126 shares of the insurance provider's stock worth $8,430,000 after buying an additional 51,201 shares during the last quarter. Finally, Capula Management Ltd acquired a new position in shares of Axis Capital during the 1st quarter worth about $3,010,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXS shares. BMO Capital Markets reiterated a "market perform" rating on shares of Axis Capital in a report on Wednesday, July 29th. Atlantic Securities set a $122.00 target price on Axis Capital in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their price target on Axis Capital from $126.00 to $112.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Keefe, Bruyette & Woods lowered their price target on Axis Capital from $131.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. Finally, Capital One Financial set a $108.00 price target on shares of Axis Capital in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.08.

Axis Capital Stock Performance

NYSE AXS opened at $104.13 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $119.99. The company has a market capitalization of $7.60 billion, a PE ratio of 7.88, a P/E/G ratio of 3.45 and a beta of 0.45. The company has a fifty day moving average of $98.42 and a two-hundred day moving average of $101.82.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.41). Axis Capital had a return on equity of 17.00% and a net margin of 16.23%. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the business posted $3.29 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts expect that Axis Capital Holdings Limited will post 12.44 earnings per share for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital's dividend payout ratio is 12.50%.

Axis Capital Profile

Axis Capital Holdings Limited NYSE: AXS is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.

AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.

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