Vest Financial LLC Boosts Stake in Axis Capital Holdings Limited $AXS

Key Points

• Vest Financial LLC increased its stake in Axis Capital Holdings by 19.2%, acquiring a total of 45,976 shares valued at approximately $4.77 million. This investment signifies growing confidence in the insurance provider's performance.
• Insider sales occurred recently, with Daniel J. Draper selling 4,305 shares and Director Henry B. Smith selling 3,500 shares, indicating some level of insider activity amidst the company's operations.
• Analysts have favorable opinions on Axis Capital, with seven giving it a Buy rating and a revised average target price of around $117.17, suggesting positive growth expectations.

Vest Financial LLC raised its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,976 shares of the insurance provider's stock after buying an additional 7,390 shares during the period. Vest Financial LLC owned approximately 0.06% of Axis Capital worth $4,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXS. IFP Advisors Inc raised its stake in shares of Axis Capital by 1,542.9% in the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 540 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Axis Capital by 34.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider's stock valued at $106,000 after purchasing an additional 259 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Axis Capital by 36.9% in the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after purchasing an additional 319 shares in the last quarter. US Bancorp DE raised its stake in shares of Axis Capital by 34.3% in the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Axis Capital by 14.9% in the 1st quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock valued at $186,000 after purchasing an additional 240 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axis Capital

In other Axis Capital news, insider Daniel J. Draper sold 4,305 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the sale, the insider owned 16,269 shares in the company, valued at approximately $1,587,366.33. This trade represents a 20.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry B. Smith sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total transaction of $345,345.00. Following the completion of the sale, the director owned 47,295 shares in the company, valued at $4,666,597.65. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,205 shares of company stock worth $1,188,048 in the last 90 days. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Axis Capital from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Weiss Ratings restated a "buy (b+)" rating on shares of Axis Capital in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Axis Capital from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods upped their target price on shares of Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company set a $123.00 price objective on shares of Axis Capital and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Axis Capital has an average rating of "Moderate Buy" and an average target price of $117.17.

Axis Capital Price Performance

AXS opened at $97.47 on Tuesday. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.73. Axis Capital Holdings Limited has a fifty-two week low of $77.21 and a fifty-two week high of $107.19. The company's 50-day moving average price is $96.65 and its 200 day moving average price is $97.95. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.41. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. Axis Capital's quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.8%. Axis Capital's dividend payout ratio (DPR) is presently 16.92%.

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.

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