Wealth Enhancement Advisory Services LLC Buys 18,168 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Axis Capital (NYSE:AXS) by 39.8%, buying 18,168 shares to hold 63,791 shares worth about $6.55 million (roughly 0.08% of the company) at the end of the quarter.
• Wall Street sentiment is broadly positive with a MarketBeat consensus rating of “Moderate Buy” and a $124 average target, while several firms raised price targets (e.g., Mizuho $141, RBC and KBW to $130) and analysts’ ratings range from Strong Buy to Hold.
• Axis reported Q results beating estimates with $3.25 EPS versus $2.97 expected and revenue of $1.73 billion (up 17.8% year-over-year), and declared a quarterly dividend of $0.44 ($1.76 annualized, ~1.8% yield) payable April 15 with an ex-dividend date of March 31.

Wealth Enhancement Advisory Services LLC boosted its position in Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 39.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,791 shares of the insurance provider's stock after buying an additional 18,168 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of Axis Capital worth $6,553,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AXS. Root Financial Partners LLC acquired a new stake in Axis Capital in the third quarter valued at approximately $29,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Axis Capital during the second quarter worth approximately $41,000. Abich Financial Wealth Management LLC bought a new position in shares of Axis Capital in the 3rd quarter worth $43,000. Mather Group LLC. acquired a new stake in Axis Capital in the 3rd quarter valued at $62,000. Finally, Quent Capital LLC acquired a new stake in Axis Capital in the 3rd quarter valued at $67,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXS. Roth Mkm restated a "buy" rating and set a $120.00 price objective on shares of Axis Capital in a report on Thursday, January 29th. Mizuho set a $141.00 target price on shares of Axis Capital in a research report on Monday, February 2nd. Royal Bank Of Canada upped their target price on shares of Axis Capital from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Keefe, Bruyette & Woods raised their price target on shares of Axis Capital from $121.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $110.00 price target on shares of Axis Capital in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $124.00.

Axis Capital Stock Down 2.4%

AXS opened at $98.86 on Friday. Axis Capital Holdings Limited has a fifty-two week low of $84.81 and a fifty-two week high of $110.34. The firm has a market capitalization of $7.31 billion, a P/E ratio of 7.98, a PEG ratio of 1.96 and a beta of 0.61. The company's 50-day moving average is $102.74 and its 200 day moving average is $100.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.97 by $0.28. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $3.38 EPS. The company's revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, March 31st. Axis Capital's dividend payout ratio (DPR) is 14.21%.

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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