AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,690 shares of the insurance provider's stock after selling 18,507 shares during the quarter. Summit Global Investments owned about 0.07% of AXIS Capital worth $3,471,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC boosted its stake in AXIS Capital by 185.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider's stock worth $27,051,000 after buying an additional 317,169 shares during the period. New York Life Investment Management LLC lifted its stake in AXIS Capital by 3.1% during the fourth quarter. New York Life Investment Management LLC now owns 15,155 shares of the insurance provider's stock worth $839,000 after purchasing an additional 462 shares in the last quarter. Intrust Bank NA boosted its position in shares of AXIS Capital by 5.2% during the fourth quarter. Intrust Bank NA now owns 6,000 shares of the insurance provider's stock worth $332,000 after buying an additional 294 shares during the period. Meritage Portfolio Management grew its stake in shares of AXIS Capital by 1,132.7% in the fourth quarter. Meritage Portfolio Management now owns 95,474 shares of the insurance provider's stock valued at $5,286,000 after buying an additional 87,729 shares in the last quarter. Finally, Alaska Permanent Fund Corp raised its holdings in shares of AXIS Capital by 1.6% in the 4th quarter. Alaska Permanent Fund Corp now owns 56,424 shares of the insurance provider's stock valued at $3,124,000 after buying an additional 891 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Wall Street Analyst Weigh In

AXS has been the subject of several research reports. Wells Fargo & Company dropped their target price on AXIS Capital from $59.00 to $57.00 and set an "underweight" rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. StockNews.com downgraded shares of AXIS Capital from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Finally, UBS Group lifted their target price on AXIS Capital from $77.00 to $80.00 and gave the company a "buy" rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, AXIS Capital has an average rating of "Hold" and a consensus price target of $67.33.

Insider Activity at AXIS Capital

In other news, Director Stanley A. Galanski bought 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $58.45 per share, with a total value of $409,150.00. Following the transaction, the director now directly owns 9,763 shares in the company, valued at $570,647.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

AXIS Capital Stock Up 0.4 %

Shares of NYSE:AXS traded up $0.27 on Friday, hitting $65.45. 682,789 shares of the company's stock were exchanged, compared to its average volume of 638,710. The firm's 50-day moving average is $62.84 and its 200 day moving average is $58.73. The company has a market capitalization of $5.54 billion, a PE ratio of 10.01, a P/E/G ratio of 1.22 and a beta of 0.80. AXIS Capital Holdings Limited has a 1-year low of $51.61 and a 1-year high of $66.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.49 billion. AXIS Capital had a return on equity of 19.53% and a net margin of 10.34%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. Sell-side analysts predict that AXIS Capital Holdings Limited will post 10.18 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were given a $0.44 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.69%. AXIS Capital's dividend payout ratio (DPR) is presently 26.91%.

AXIS Capital Company Profile

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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