Savant Capital LLC Sells 55,700 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Savant Capital LLC cut its Axis Capital stake by 92.5% in the fourth quarter, selling 55,700 shares and leaving it with 4,542 shares valued at about $486,000.
• Axis Capital reported strong quarterly earnings of $3.42 per share, topping expectations, while revenue reached $1.64 billion and rose 8% from a year earlier.
• The company declared a quarterly dividend of $0.44 per share, implying an annual yield of 1.8%, and analysts currently rate the stock a Moderate Buy with an average target of $122.10.

Savant Capital LLC lowered its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 92.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,542 shares of the insurance provider's stock after selling 55,700 shares during the quarter. Savant Capital LLC's holdings in Axis Capital were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Activest Wealth Management bought a new position in shares of Axis Capital during the 4th quarter worth approximately $30,000. Abich Financial Wealth Management LLC bought a new stake in shares of Axis Capital in the 3rd quarter worth approximately $43,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Axis Capital in the 4th quarter worth approximately $51,000. Bayforest Capital Ltd bought a new stake in shares of Axis Capital in the 4th quarter worth approximately $55,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Axis Capital by 1,062.5% in the 4th quarter. Global Retirement Partners LLC now owns 558 shares of the insurance provider's stock worth $60,000 after purchasing an additional 510 shares during the period. Institutional investors own 93.44% of the company's stock.

Axis Capital Trading Up 0.9%

Shares of AXS stock opened at $95.37 on Friday. The company's fifty day simple moving average is $99.51 and its two-hundred day simple moving average is $101.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $110.34. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 2.89 and a beta of 0.51.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $3.17 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Axis Capital Holdings Limited will post 13.24 earnings per share for the current year.

Axis Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. Axis Capital's payout ratio is presently 13.11%.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the sale, the director owned 46,347 shares of the company's stock, valued at $4,573,985.43. The trade was a 5.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AXS has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered their price target on shares of Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Bank of America lowered their price target on shares of Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Mizuho set a $137.00 price target on shares of Axis Capital in a report on Monday, May 4th. Wells Fargo & Company lowered their price target on shares of Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.10.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.