Westover Capital Advisors LLC Invests $2.81 Million in Axis Capital Holdings Limited (NYSE:AXS)

Key Points

• Westover Capital Advisors LLC invested approximately $2.81 million in Axis Capital Holdings Limited, acquiring 28,055 shares during the first quarter, as disclosed in a recent SEC filing.
• Axis Capital reported earnings per share (EPS) of $3.17 for the latest quarter, exceeding analysts' expectations of $2.64, though its revenue of $1.52 billion fell short of the projected $1.83 billion.
• The company announced a quarterly dividend of $0.44 per share, yielding 1.83%, and has a dividend payout ratio of 17.46%.

Westover Capital Advisors LLC acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,055 shares of the insurance provider's stock, valued at approximately $2,812,000.

Several other institutional investors also recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its holdings in shares of Axis Capital by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider's stock valued at $671,000 after buying an additional 145 shares during the last quarter. GAMMA Investing LLC lifted its position in Axis Capital by 14.9% during the first 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 during the period. JPMorgan Chase & Co. grew its position in Axis Capital by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 133,675 shares of the insurance provider's stock valued at $11,846,000 after buying an additional 4,303 shares during the period. Bank of New York Mellon Corp grew its position in Axis Capital by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 314,372 shares of the insurance provider's stock valued at $31,513,000 after buying an additional 8,443 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Axis Capital during the fourth quarter valued at $319,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Stock Down 1.3%

Shares of NYSE AXS opened at $96.04 on Friday. The company has a 50 day simple moving average of $100.94 and a 200-day simple moving average of $96.21. The company has a market capitalization of $7.55 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.68 and a quick ratio of 0.68. Axis Capital Holdings Limited has a 1 year low of $70.16 and a 1 year high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. The business 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 14.54% and a return on equity of 19.01%. The business's revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.07 EPS. On average, equities research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.83%. Axis Capital's dividend payout ratio (DPR) is presently 17.46%.

Wall Street Analyst Weigh In

AXS has been the subject of a number of analyst reports. Cowen reiterated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. Wells Fargo & Company upped their price objective on shares of Axis Capital from $104.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Jefferies Financial Group upped their price objective on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $108.25.

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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