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

Key Points

• Vest Financial LLC reduced its stake in Axis Capital by 29.2% in the fourth quarter, selling 11,452 shares and finishing with 27,777 shares worth about $2.98 million.
• Axis Capital beat EPS estimates in its latest quarter ($3.42 vs. $3.33) but missed revenue expectations at $1.64 billion, though revenue was up 8% year‑over‑year.
• Analysts maintain a consensus of Moderate Buy with an average target of $122.80 (nine Buys, three Holds), and institutional investors own roughly 93.44% of the stock.

Vest Financial LLC cut its holdings in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,777 shares of the insurance provider's stock after selling 11,452 shares during the quarter. Vest Financial LLC's holdings in Axis Capital were worth $2,975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXS. Root Financial Partners LLC purchased a new stake in shares of Axis Capital in the third quarter valued at approximately $29,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Axis Capital in the third quarter valued at approximately $43,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Axis Capital in the fourth quarter valued at approximately $51,000. Bayforest Capital Ltd purchased a new stake in shares of Axis Capital in the fourth quarter valued at approximately $55,000. Finally, Mather Group LLC. acquired a new position in Axis Capital during the third quarter worth about $62,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXS has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods decreased their target price on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. The Goldman Sachs Group reiterated a "neutral" rating and set a $110.00 target price on shares of Axis Capital in a research report on Wednesday, January 7th. Royal Bank Of Canada boosted their target price on Axis Capital from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Finally, Roth Mkm reissued a "buy" rating and issued a $120.00 price target on shares of Axis Capital in a report on Thursday, January 29th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.80.

Axis Capital Stock Performance

NYSE AXS opened at $97.93 on Thursday. The business's 50-day moving average price is $101.55 and its 200 day moving average price is $101.32. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $110.34. The company has a market capitalization of $7.26 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24.

Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts predict that Axis Capital Holdings Limited will post 13.34 earnings per share for the current year.

Axis Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital's dividend payout ratio is 14.21%.

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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