SG Americas Securities LLC acquired a new position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,293 shares of the insurance provider's stock, valued at approximately $330,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Axis Capital in the 4th quarter worth approximately $88,175,000. Norges Bank acquired a new stake in Axis Capital in the 4th quarter worth approximately $88,147,000. FIL Ltd acquired a new stake in Axis Capital in the 4th quarter worth approximately $43,893,000. Massachusetts Financial Services Co. MA acquired a new stake in Axis Capital in the 4th quarter worth approximately $37,775,000. Finally, Causeway Capital Management LLC boosted its stake in Axis Capital by 79.1% in the 4th quarter. Causeway Capital Management LLC now owns 728,331 shares of the insurance provider's stock worth $64,545,000 after purchasing an additional 321,608 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.
Axis Capital Stock Performance
NYSE AXS traded up $0.39 on Friday, hitting $103.20. 812,136 shares of the company's stock traded hands, compared to its average volume of 616,874. 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 1-year low of $68.49 and a 1-year high of $107.19. The firm's 50-day moving average price is $100.91 and its two-hundred day moving average price is $95.18. The firm has a market capitalization of $8.12 billion, a PE ratio of 10.24, a P/E/G ratio of 1.24 and a beta of 0.83.
Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating the consensus estimate of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the previous year, the business posted $3.07 EPS. The business's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.
Axis Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, June 30th. Axis Capital's dividend payout ratio is currently 17.46%.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Axis Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Cowen reiterated a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Wells Fargo & Company lifted their target price on shares of Axis Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.75.
Read Our Latest Report on Axis Capital
Axis Capital Profile
(
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.
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