SG Americas Securities LLC Invests $330,000 in Axis Capital Holdings Limited (NYSE:AXS)

SG Americas Securities LLC acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,293 shares of the insurance provider's stock, valued at approximately $330,000.

A number of other hedge funds have also recently modified their holdings of AXS. Ibex Wealth Advisors purchased a new position in Axis Capital during the first quarter valued at approximately $4,115,000. GAMMA Investing LLC increased its holdings in shares of Axis Capital by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock valued at $186,000 after purchasing an additional 240 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Axis Capital by 89.5% in the 1st quarter. Pallas Capital Advisors LLC now owns 22,817 shares of the insurance provider's stock valued at $2,287,000 after purchasing an additional 10,778 shares during the period. Park Avenue Securities LLC boosted its holdings in Axis Capital by 14.0% during the first quarter. Park Avenue Securities LLC now owns 3,080 shares of the insurance provider's stock worth $309,000 after buying an additional 379 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its holdings in Axis Capital by 7.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,736 shares of the insurance provider's stock worth $274,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

Analyst Ratings Changes

AXS has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wells Fargo & Company upped their target price on Axis Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. UBS Group increased their target price on Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group boosted their price target on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.75.

Axis Capital Price Performance

Shares of Axis Capital stock traded up $0.39 during trading hours on Friday, reaching $103.20. 812,136 shares of the company's stock were exchanged, compared to its average volume of 617,590. The company has a market capitalization of $8.12 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.23 and a beta of 0.83. Axis Capital Holdings Limited has a 1 year low of $68.49 and a 1 year high of $107.19. The business has a fifty day moving average of $100.91 and a two-hundred day moving average of $95.12. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.29.

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

Axis Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital's dividend payout ratio is presently 17.46%.

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.