South Dakota Investment Council Decreases Position in Axis Capital Holdings Limited $AXS

Key Points

• Axis Capital (NYSE:AXS) saw a 35.3% stake reduction by the South Dakota Investment Council, which sold 20,666 shares and now holds 37,871 shares worth $3,628,000; institutional investors own about 93.44% of the stock.
• Axis topped expectations for the quarter with $3.25 EPS vs. $2.97 expected and revenue of $1.73 billion (up 17.8% year-over-year), with a net margin of 15.37% and ROE of 18.72%.
• The company declared a quarterly dividend of $0.44 per share (annualized $1.76, ~1.7% yield), with an ex-dividend and record date on March 31 and payment on April 15.

South Dakota Investment Council lowered its stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 35.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,871 shares of the insurance provider's stock after selling 20,666 shares during the quarter. South Dakota Investment Council's holdings in Axis Capital were worth $3,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in Axis Capital in the 3rd quarter valued at about $29,000. Smithfield Trust Co increased its position in shares of Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Axis Capital in the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Axis Capital during the 2nd quarter worth $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Axis Capital during the third quarter worth $43,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Axis Capital Stock Down 0.4%

Shares of NYSE:AXS opened at $103.95 on Thursday. Axis Capital Holdings Limited has a 1-year low of $84.81 and a 1-year high of $110.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.67. The stock has a market cap of $7.69 billion, a P/E ratio of 8.39, a P/E/G ratio of 3.07 and a beta of 0.61. The firm has a fifty day moving average price of $103.85 and a 200 day moving average price of $100.16.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.28. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the prior year, the company earned $3.38 earnings per share. The business's revenue was up 17.8% compared to the same quarter last year. Sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital's dividend payout ratio (DPR) is presently 14.21%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Axis Capital in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $121.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, January 6th. Wells Fargo & Company lowered their target price on shares of Axis Capital from $124.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, January 30th. Jefferies Financial Group reiterated a "buy" rating and set a $122.00 price target on shares of Axis Capital in a research note on Friday, January 30th. Finally, Mizuho set a $141.00 price target on shares of Axis Capital in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Axis Capital has a consensus rating of "Moderate Buy" and a consensus price target of $124.00.

Axis Capital Company 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.

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