Point72 Hong Kong Ltd Increases Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Point72 Hong Kong Ltd grew its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 2,079.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,429 shares of the insurance provider's stock after acquiring an additional 13,767 shares during the period. Point72 Hong Kong Ltd's holdings in AXIS Capital were worth $1,279,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in AXIS Capital in the 4th quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted its stake in AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after acquiring an additional 285 shares during the period. SBI Securities Co. Ltd. bought a new stake in AXIS Capital in the fourth quarter valued at $60,000. Assetmark Inc. bought a new position in AXIS Capital in the 4th quarter worth $70,000. Finally, Venturi Wealth Management LLC raised its holdings in AXIS Capital by 28.5% in the 4th quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock worth $74,000 after purchasing an additional 185 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. The trade was a 47.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

AXS has been the topic of a number of research reports. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research note on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company raised their price objective on AXIS Capital from $100.00 to $104.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AXIS Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.75.

AXIS Capital Stock Up 0.4%

AXS stock traded up $0.37 on Monday, reaching $102.87. 451,501 shares of the company traded hands, compared to its average volume of 595,172. The firm has a fifty day simple moving average of $96.49 and a 200-day simple moving average of $92.26. The company has a market cap of $8.09 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82. AXIS Capital Holdings Limited has a one year low of $68.02 and a one year high of $103.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

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

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital's dividend payout ratio (DPR) is currently 17.46%.

AXIS Capital 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.