VELA Investment Management LLC Sells 5,565 Shares of Axis Capital Holdings Limited (NYSE:AXS)

VELA Investment Management LLC reduced its holdings in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,822 shares of the insurance provider's stock after selling 5,565 shares during the period. Axis Capital comprises 1.3% of VELA Investment Management LLC's holdings, making the stock its 19th biggest position. VELA Investment Management LLC owned about 0.05% of Axis Capital worth $4,192,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA raised its position in Axis Capital by 36.9% during the first 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 during the period. Summit Trail Advisors LLC increased its position in Axis Capital by 43.5% during the first quarter. Summit Trail Advisors LLC now owns 4,836 shares of the insurance provider's stock worth $487,000 after purchasing an additional 1,467 shares during the last quarter. Highland Capital Management LLC increased its position in Axis Capital by 27.8% during the first quarter. Highland Capital Management LLC now owns 4,481 shares of the insurance provider's stock worth $449,000 after purchasing an additional 974 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Axis Capital by 16.5% during the first quarter. Illinois Municipal Retirement Fund now owns 35,678 shares of the insurance provider's stock worth $3,576,000 after purchasing an additional 5,056 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Axis Capital by 89.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 154,979 shares of the insurance provider's stock worth $15,535,000 after buying an additional 73,209 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Down 0.2%

NYSE:AXS traded down $0.23 during trading hours on Tuesday, hitting $98.38. The stock had a trading volume of 1,054,538 shares, compared to its average volume of 623,045. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. Axis Capital Holdings Limited has a 1-year low of $69.47 and a 1-year high of $107.19. The business has a 50 day simple moving average of $101.58 and a two-hundred day simple moving average of $95.62. The company has a market cap of $7.74 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.53. Axis Capital had a return on equity of 19.01% and a net margin of 14.54%. The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the business posted $3.07 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital's payout ratio is currently 17.46%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AXS. UBS Group raised their price objective on shares of Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Jefferies Financial Group raised their target price 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. Wells Fargo & Company raised their target price on shares of Axis Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, 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 report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.75.

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.