Axis Capital Holdings Limited $AXS Stock Holdings Increased by Swedbank AB

Key Points

• Swedbank AB has increased its holdings in Axis Capital Holdings Limited by 113.0% during Q1, bringing its total ownership to approximately 0.95%, valued at $74.97 million.
• Several institutional investors, including Janney Montgomery Scott LLC and Bank of New York Mellon Corp, also modified their stakes in Axis Capital, indicating a growing interest in the company.
• Analysts have varied opinions on Axis Capital, with a consensus rating of "Moderate Buy" and a price target of $111.43, reflecting positive sentiment despite some recent rating changes.

Swedbank AB grew its stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 113.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,903 shares of the insurance provider's stock after acquiring an additional 396,764 shares during the period. Swedbank AB owned about 0.95% of Axis Capital worth $74,970,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Axis Capital during the 1st quarter worth $33,000. IFP Advisors Inc grew its holdings in Axis Capital by 1,542.9% during the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after acquiring an additional 540 shares in the last quarter. Private Trust Co. NA grew its holdings in Axis Capital by 36.9% during the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock worth $119,000 after acquiring an additional 319 shares in the last quarter. US Bancorp DE grew its holdings in Axis Capital by 34.3% during the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock worth $163,000 after acquiring an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Axis Capital by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after acquiring an additional 240 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axis Capital

In other Axis Capital news, insider Daniel J. Draper sold 4,305 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the sale, the insider directly owned 16,269 shares in the company, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry B. Smith sold 3,500 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the sale, the director owned 47,295 shares in the company, valued at $4,666,597.65. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,205 shares of company stock worth $1,188,048 over the last 90 days. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AXS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, UBS Group reissued a "buy" rating and set a $119.00 price objective (up from $115.00) on shares of Axis Capital in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.43.

Axis Capital Price Performance

Shares of AXS stock traded up $1.68 during midday trading on Thursday, reaching $96.60. 171,764 shares of the company were exchanged, compared to its average volume of 690,149. Axis Capital Holdings Limited has a 12 month low of $77.21 and a 12 month high of $107.19. The company has a market cap of $7.55 billion, a P/E ratio of 9.30, a PEG ratio of 1.38 and a beta of 0.77. The company's 50 day moving average price is $96.83 and its two-hundred day moving average price is $97.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.41. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $2.93 EPS. Axis Capital's revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts expect 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 Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 30th. Axis Capital's payout ratio is 16.92%.

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.