Wedge Capital Management L L P NC Sells 28,020 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Wedge Capital Management L L P NC trimmed its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,896 shares of the insurance provider's stock after selling 28,020 shares during the period. Wedge Capital Management L L P NC owned about 0.14% of AXIS Capital worth $10,916,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AXS. NBC Securities Inc. acquired a new stake in AXIS Capital in the first quarter valued at $33,000. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital during the fourth quarter worth about $53,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $59,000 after purchasing an additional 285 shares during the period. SBI Securities Co. Ltd. bought a new stake in AXIS Capital during the 4th quarter valued at $60,000. Finally, Assetmark Inc. acquired a new stake in AXIS Capital in the fourth quarter worth about $70,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXS has been the topic of several research reports. Wells Fargo & Company upped their price target on AXIS Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. UBS Group increased their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Jefferies Financial Group boosted 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. Finally, Keefe, Bruyette & Woods increased their target price on AXIS Capital from $114.00 to $118.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.75.

AXIS Capital Stock Up 2.8%

AXS traded up $2.79 during trading on Thursday, reaching $103.76. The company had a trading volume of 667,673 shares, compared to its average volume of 605,113. The company has a market cap of $8.16 billion, a P/E ratio of 8.40, a PEG ratio of 3.96 and a beta of 0.83. AXIS Capital Holdings Limited has a 12 month low of $68.02 and a 12 month high of $107.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The business's fifty day moving average price is $98.47 and its 200 day moving average price is $94.28.

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

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, June 30th. AXIS Capital's dividend payout ratio is currently 17.46%.

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.