Royce & Associates LP Sells 123,620 Shares of Axis Capital Holdings Limited (NYSE:AXS)

Royce & Associates LP decreased its stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 31.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 264,617 shares of the insurance provider's stock after selling 123,620 shares during the period. Royce & Associates LP owned 0.34% of Axis Capital worth $26,525,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AXS. HighTower Advisors LLC increased its position in shares of Axis Capital by 6.7% during the fourth quarter. HighTower Advisors LLC now owns 8,558 shares of the insurance provider's stock valued at $758,000 after buying an additional 534 shares during the period. Avantax Advisory Services Inc. bought a new stake in Axis Capital during the 4th quarter worth approximately $273,000. Xponance Inc. lifted its stake in Axis Capital by 15.5% in the 4th quarter. Xponance Inc. now owns 3,429 shares of the insurance provider's stock worth $304,000 after purchasing an additional 461 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Axis Capital in the 4th quarter worth approximately $2,440,000. Finally, LPL Financial LLC boosted its holdings in Axis Capital by 1.5% in the 4th quarter. LPL Financial LLC now owns 62,951 shares of the insurance provider's stock valued at $5,579,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Axis Capital Price Performance

Shares of AXS stock traded up $0.98 during trading hours on Friday, hitting $96.91. 415,425 shares of the company's stock were exchanged, compared to its average volume of 676,233. The company has a market capitalization of $7.62 billion, a PE ratio of 9.61, a PEG ratio of 1.17 and a beta of 0.81. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. Axis Capital Holdings Limited has a 12-month low of $70.16 and a 12-month high of $107.19. The business's 50 day simple moving average is $100.82 and its 200-day simple moving average is $96.33.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the company earned $3.07 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Monday, June 30th. Axis Capital's dividend payout ratio is presently 17.46%.

Analysts Set New Price Targets

AXS has been the topic of several research analyst reports. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Wall Street Zen upgraded Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Jefferies Financial Group lifted their price target on Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday, April 11th. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.25.

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.