Vanguard Group Inc. Has $826.59 Million Holdings in Axis Capital Holdings Limited $AXS

Key Points

• Vanguard reduced its stake in Axis Capital by 3.0% to 7,718,631 shares, representing a 10.02% ownership stake worth about $826.59 million per its latest 13F filing.
• Axis reported quarterly EPS of $3.42, topping estimates by $0.09 while revenue came in at $1.64 billion versus $1.72 billion expected; the company showed strong profitability with a ROE of 18.12% and a net margin of 16.0%.
• Wall Street sentiment is generally positive with nine analysts rated Buy and two Hold, giving a consensus rating of "Moderate Buy" and an average price target of $122.80.

Vanguard Group Inc. lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,718,631 shares of the insurance provider's stock after selling 235,742 shares during the period. Vanguard Group Inc. owned 10.02% of Axis Capital worth $826,588,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Johnson Investment Counsel Inc. boosted its stake in Axis Capital by 0.5% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,222,932 shares of the insurance provider's stock valued at $117,157,000 after purchasing an additional 6,571 shares during the last quarter. Synergy Asset Management LLC boosted its stake in Axis Capital by 63.2% during the 3rd quarter. Synergy Asset Management LLC now owns 352,050 shares of the insurance provider's stock valued at $33,726,000 after purchasing an additional 136,313 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Axis Capital by 30.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 970,411 shares of the insurance provider's stock valued at $92,965,000 after buying an additional 225,569 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Axis Capital during the 3rd quarter valued at $1,118,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Axis Capital by 22.8% during the 3rd quarter. New York State Common Retirement Fund now owns 110,364 shares of the insurance provider's stock valued at $10,573,000 after buying an additional 20,484 shares during the period. Institutional investors and hedge funds own 93.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AXS shares. UBS Group reissued a "buy" rating on shares of Axis Capital in a report on Monday, February 2nd. Weiss Ratings cut Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating and set a $122.00 price target on shares of Axis Capital in a report on Friday, January 30th. The Goldman Sachs Group reissued a "neutral" rating and set a $110.00 price target on shares of Axis Capital in a report on Wednesday, January 7th. Finally, Mizuho lowered their price target on Axis Capital from $141.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $122.80.

Axis Capital Price Performance

Shares of Axis Capital stock opened at $100.09 on Friday. Axis Capital Holdings Limited has a one year low of $88.07 and a one year high of $110.34. The stock's fifty day moving average is $101.51 and its 200 day moving average is $101.34. The stock has a market cap of $7.38 billion, a P/E ratio of 7.46, a P/E/G ratio of 2.04 and a beta of 0.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65.

Axis Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the firm earned $3.17 EPS. Axis Capital's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Axis Capital Holdings Limited will post 13.33 earnings per share for the current year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 31st. Axis Capital's dividend payout ratio (DPR) is currently 13.11%.

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.

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