Vest Financial LLC Makes New $3.87 Million Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Vest Financial LLC purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 38,586 shares of the insurance provider's stock, valued at approximately $3,868,000.

A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of AXIS Capital in the 4th quarter worth approximately $88,175,000. Norges Bank acquired a new position in AXIS Capital in the fourth quarter worth approximately $88,147,000. FIL Ltd acquired a new position in AXIS Capital in the fourth quarter worth approximately $43,893,000. Massachusetts Financial Services Co. MA bought a new position in shares of AXIS Capital in the fourth quarter valued at $37,775,000. Finally, Principal Financial Group Inc. lifted its position in shares of AXIS Capital by 7,053.2% during the 4th quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider's stock valued at $31,366,000 after acquiring an additional 348,993 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

AXIS Capital Stock Down 3.4%

Shares of NYSE AXS traded down $3.51 during trading hours on Tuesday, hitting $100.54. The stock had a trading volume of 588,379 shares, compared to its average volume of 603,033. The firm's 50-day moving average price is $98.27 and its two-hundred day moving average price is $94.24. AXIS Capital Holdings Limited has a 52 week low of $68.02 and a 52 week high of $107.19. The company has a market capitalization of $7.91 billion, a P/E ratio of 8.14, a P/E/G ratio of 3.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, topping the consensus estimate of $2.64 by $0.53. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.07 earnings per share. Analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.75%. AXIS Capital's payout ratio is currently 17.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXS. Jefferies Financial Group lifted their target price on AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen upgraded AXIS Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research report on Thursday, May 1st. Cowen restated a "buy" rating on shares of AXIS Capital in a report on Wednesday, May 14th. Finally, UBS Group upped their target price on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.