Squarepoint Ops LLC Has $11.66 Million Stock Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Squarepoint Ops LLC increased its Axis Capital stake by 180.6% in the second quarter, acquiring 69,828 additional shares for a total position worth approximately $11.66 million. Institutional investors collectively own 93.44% of the company.
• Axis Capital reported quarterly EPS of $2.84, missing analysts’ $3.25 estimate, while revenue of $1.75 billion slightly exceeded expectations and rose 7.4% year over year.
• Shares opened at $98.36, down 0.3%, while analysts maintained a “Moderate Buy” consensus with an average price target of $121.23; however, Zacks Research downgraded the stock to “Strong Sell.”

Squarepoint Ops LLC increased its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 180.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,501 shares of the insurance provider's stock after buying an additional 69,828 shares during the quarter. Squarepoint Ops LLC owned about 0.15% of Axis Capital worth $11,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXS. Assetmark Inc. grew its stake in Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock valued at $40,000 after acquiring an additional 177 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Axis Capital in the 1st quarter worth $43,000. Fideuram Asset Management Ireland dac bought a new position in shares of Axis Capital in the 4th quarter worth $47,000. DV Equities LLC acquired a new stake in Axis Capital in the 4th quarter valued at $54,000. Finally, Global Retirement Partners LLC grew its position in Axis Capital by 1,062.5% in the 4th quarter. Global Retirement Partners LLC now owns 558 shares of the insurance provider's stock valued at $60,000 after purchasing an additional 510 shares during the period. Institutional investors own 93.44% of the company's stock.

Axis Capital Trading Down 0.3%

Shares of Axis Capital stock opened at $98.36 on Thursday. The company has a market capitalization of $7.18 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 4.30 and a beta of 0.49. The stock has a fifty day simple moving average of $106.10 and a 200 day simple moving average of $102.78. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $119.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.41). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. Axis Capital's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $3.29 earnings per share. On average, sell-side analysts anticipate that Axis Capital Holdings Limited will post 12.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho lowered their price objective on shares of Axis Capital from $142.00 to $130.00 and set an "outperform" rating on the stock in a report on Monday, August 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Axis Capital from $131.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. Atlantic Securities set a $122.00 target price on shares of Axis Capital in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Axis Capital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 12th. Finally, Capital One Financial set a $108.00 target price on shares of Axis Capital in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.23.

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.

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