Tidal Investments LLC Sells 6,477 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Tidal Investments LLC cut its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,179 shares of the insurance provider's stock after selling 6,477 shares during the quarter. Tidal Investments LLC's holdings in AXIS Capital were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of AXIS Capital by 53.6% during the 3rd quarter. Barclays PLC now owns 48,964 shares of the insurance provider's stock valued at $3,898,000 after purchasing an additional 17,082 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in AXIS Capital by 3.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,549 shares of the insurance provider's stock worth $580,000 after acquiring an additional 239 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of AXIS Capital by 16.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 3,893 shares of the insurance provider's stock valued at $345,000 after purchasing an additional 560 shares in the last quarter. Blue Trust Inc. boosted its position in AXIS Capital by 38.0% during the 4th quarter. Blue Trust Inc. now owns 1,679 shares of the insurance provider's stock valued at $149,000 after acquiring an additional 462 shares in the last quarter. Finally, KBC Group NV grew its stake in AXIS Capital by 74.6% in the fourth quarter. KBC Group NV now owns 3,668 shares of the insurance provider's stock worth $325,000 after purchasing an additional 1,567 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXS has been the subject of a number of analyst reports. Wall Street Zen raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Jefferies Financial Group raised their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a report on Friday, April 11th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of AXIS Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Cowen reiterated a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.75.

AXIS Capital Price Performance

AXS stock traded up $1.35 during mid-day trading on Friday, hitting $103.90. The company had a trading volume of 640,228 shares, compared to its average volume of 594,150. The company has a 50-day moving average price of $97.65 and a 200 day moving average price of $93.32. AXIS Capital Holdings Limited has a 12-month low of $68.02 and a 12-month high of $105.16. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 3.96 and a beta of 0.82. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.83 billion. During the same period in the prior year, the company earned $3.07 EPS. The business's revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.69%. AXIS Capital's dividend payout ratio (DPR) is 17.46%.

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.