VELA Investment Management LLC Lowers Stake in Axis Capital Holdings Limited (NYSE:AXS)

VELA Investment Management LLC lowered its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,822 shares of the insurance provider's stock after selling 5,565 shares during the quarter. Axis Capital accounts for about 1.3% of VELA Investment Management LLC's investment portfolio, making the stock its 19th largest position. VELA Investment Management LLC owned approximately 0.05% of Axis Capital worth $4,192,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Axis Capital during the first quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Axis Capital in the fourth quarter worth $53,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Axis Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after buying an additional 285 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Axis Capital in the fourth quarter worth $60,000. Finally, Assetmark Inc. purchased a new position in shares of Axis Capital in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Axis Capital Trading Up 0.9%

AXS stock traded up $0.88 during mid-day trading on Friday, reaching $99.11. 661,690 shares of the stock traded hands, compared to its average volume of 620,805. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.68 and a current ratio of 0.68. Axis Capital Holdings Limited has a one year low of $69.44 and a one year high of $107.19. The stock has a market capitalization of $7.80 billion, a PE ratio of 9.83, a PEG ratio of 1.19 and a beta of 0.81. The business has a 50-day moving average price of $101.50 and a two-hundred day moving average price of $95.54.

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

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital's dividend payout ratio (DPR) is 17.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AXS shares. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of Axis Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen raised shares of Axis Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Cowen reissued a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Finally, Jefferies Financial Group boosted their target price on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

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.