Woodline Partners LP Buys Shares of 219,402 AXIS Capital Holdings Limited (NYSE:AXS)

Woodline Partners LP acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 219,402 shares of the insurance provider's stock, valued at approximately $19,443,000. Woodline Partners LP owned approximately 0.26% of AXIS Capital at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AXS. Raymond James Financial Inc. purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $88,175,000. Norges Bank purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $88,147,000. FIL Ltd purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $43,893,000. Massachusetts Financial Services Co. MA purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $37,775,000. Finally, Swedbank AB purchased a new position in shares of AXIS Capital during the 4th quarter worth approximately $31,118,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Stock Down 1.8%

Shares of AXS opened at $100.99 on Thursday. The firm has a market cap of $7.94 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82. The company's fifty day moving average is $96.86 and its two-hundred day moving average is $92.39. AXIS Capital Holdings Limited has a fifty-two week low of $68.02 and a fifty-two week high of $103.85. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating analysts' consensus estimates of $2.64 by $0.53. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. AXIS Capital's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $3.07 EPS. Analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a $0.44 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.74%. AXIS Capital's dividend payout ratio (DPR) is presently 17.46%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AXS. Cowen reissued a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. StockNews.com upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Wells Fargo & Company raised their target price on shares of AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Jefferies Financial Group raised their target price 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, UBS Group raised 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

Insider Activity at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. The trade was a 47.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

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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