Insider Selling: Axis Capital (NYSE:AXS) Director Sells $250,869.98 in Stock

Key Points

• Director Henry Smith sold 2,542 shares of Axis Capital on May 7 at an average price of $98.69, totaling about $250,870. After the sale, he still owned 46,347 shares.
• Axis Capital beat earnings expectations in its latest quarter, reporting $3.42 EPS versus $3.33 expected, though revenue of $1.64 billion came in below estimates.
• Analysts remain generally positive on the stock, with nine Buy ratings and two Hold ratings and a consensus target price of $122.10, while the shares recently traded around $99.45.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report) Director Henry Smith sold 2,542 shares of Axis Capital stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director owned 46,347 shares in the company, valued at $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Axis Capital Stock Up 0.1%

NYSE AXS traded up $0.14 during trading hours on Friday, hitting $99.45. The company had a trading volume of 326,070 shares, compared to its average volume of 615,319. The firm's 50 day moving average is $101.21 and its 200 day moving average is $101.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 3.05 and a beta of 0.54.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Axis Capital Holdings Limited will post 13.2 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, March 31st. Axis Capital's dividend payout ratio is currently 13.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AXS shares. Roth Mkm reissued a "buy" rating and set a $120.00 target price on shares of Axis Capital in a research report on Thursday, January 29th. Wells Fargo & Company dropped their price target on shares of Axis Capital from $123.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday. Weiss Ratings lowered shares of Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, April 24th. Royal Bank Of Canada upped their price objective on shares of Axis Capital from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Finally, UBS Group reaffirmed a "buy" rating on shares of Axis Capital in a research report on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.10.

Institutional Trading of Axis Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Axis Capital in the 3rd quarter valued at approximately $29,000. Activest Wealth Management acquired a new position in Axis Capital in the fourth quarter worth $30,000. Assetmark Inc. boosted its holdings in Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock worth $40,000 after purchasing an additional 177 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Axis Capital during the third quarter valued at $43,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Axis Capital during the first quarter worth $43,000. Institutional investors and hedge funds own 93.44% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.