Swedbank AB Has $100.11 Million Stake in Axis Capital Holdings Limited $AXS

Key Points

• Swedbank AB increased its stake in Axis Capital Holdings by 28.9% during the second quarter, owning a total of 964,260 shares valued at approximately $100 million.
• Several hedge funds have modified their holdings in Axis Capital, with notable increases in investments such as IFP Advisors Inc boosting their holdings by 1,542.9% in the first quarter.
• Axis Capital recently announced a quarterly dividend of $0.44, reflecting a 1.8% dividend yield, with the ex-dividend date set for September 30th.

Swedbank AB raised its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 28.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 964,260 shares of the insurance provider's stock after buying an additional 216,357 shares during the period. Swedbank AB owned approximately 1.23% of Axis Capital worth $100,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Axis Capital in the 1st quarter valued at about $33,000. IFP Advisors Inc boosted its position in Axis Capital by 1,542.9% in the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after buying an additional 540 shares during the last quarter. Parallel Advisors LLC boosted its position in Axis Capital by 34.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider's stock valued at $106,000 after buying an additional 259 shares during the last quarter. Private Trust Co. NA boosted its position in Axis Capital by 36.9% in the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after buying an additional 319 shares during the last quarter. Finally, US Bancorp DE boosted its position in Axis Capital by 34.3% in the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after buying an additional 416 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axis Capital

In related news, insider Daniel J. Draper sold 4,305 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the completion of the transaction, the insider owned 16,269 shares of the company's stock, valued at approximately $1,587,366.33. This trade represents a 20.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the completion of the transaction, the director directly owned 47,295 shares of the company's stock, valued at $4,666,597.65. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,205 shares of company stock worth $1,188,048. 0.70% of the stock is currently owned by company insiders.

Axis Capital Price Performance

Shares of NYSE AXS traded down $1.05 during mid-day trading on Friday, reaching $95.24. 1,643,155 shares of the company traded hands, compared to its average volume of 522,815. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $7.45 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77. Axis Capital Holdings Limited has a fifty-two week low of $77.21 and a fifty-two week high of $107.19. The stock has a fifty day simple moving average of $96.79 and a 200-day simple moving average of $97.87.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.41. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.68 billion. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 earnings per share. Equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a $0.44 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital's payout ratio is 16.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group reaffirmed a "buy" rating and set a $119.00 price target (up previously from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Axis Capital from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $111.43.

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.