Summit Global Investments Has $1.04 Million Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Summit Global Investments lowered its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 34.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,385 shares of the insurance provider's stock after selling 5,343 shares during the quarter. Summit Global Investments' holdings in AXIS Capital were worth $1,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in AXIS Capital in the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC raised its stake in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 285 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of AXIS Capital in the fourth quarter valued at $60,000. Assetmark Inc. bought a new stake in AXIS Capital in the fourth quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its position in AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 93.44% of the company's stock.

AXIS Capital Trading Down 0.0%

AXIS Capital stock traded down $0.05 during mid-day trading on Wednesday, hitting $104.83. 144,139 shares of the company's stock were exchanged, compared to its average volume of 593,602. AXIS Capital Holdings Limited has a fifty-two week low of $68.02 and a fifty-two week high of $105.40. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $8.25 billion, a P/E ratio of 8.49, a PEG ratio of 3.96 and a beta of 0.82. The company's 50 day simple moving average is $97.86 and its 200-day simple moving average is $93.64.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $0.53. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $3.07 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current 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 paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital's payout ratio is currently 17.46%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $114.00 to $118.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Wall Street Zen raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.75.

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.