Blueshift Asset Management LLC acquired a new position in Axis Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,006 shares of the insurance provider’s stock, valued at approximately $476,000.
Other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank boosted its holdings in Axis Capital by 10.3% in the fourth quarter. First Hawaiian Bank now owns 18,741 shares of the insurance provider’s stock worth $1,114,000 after purchasing an additional 1,748 shares during the period. Cerebellum GP LLC boosted its holdings in Axis Capital by 34.8% in the fourth quarter. Cerebellum GP LLC now owns 9,366 shares of the insurance provider’s stock worth $557,000 after purchasing an additional 2,420 shares during the period. Man Group plc boosted its holdings in Axis Capital by 11.9% in the third quarter. Man Group plc now owns 733,365 shares of the insurance provider’s stock worth $48,929,000 after purchasing an additional 77,912 shares during the period. Voya Investment Management LLC boosted its holdings in Axis Capital by 385.6% in the third quarter. Voya Investment Management LLC now owns 203,689 shares of the insurance provider’s stock worth $13,590,000 after purchasing an additional 161,745 shares during the period. Finally, Millennium Management LLC boosted its holdings in Axis Capital by 70.4% in the third quarter. Millennium Management LLC now owns 687,233 shares of the insurance provider’s stock worth $45,852,000 after purchasing an additional 283,924 shares during the period. 91.01% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Henry B. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $64.91, for a total transaction of $649,100.00. Following the completion of the transaction, the director now owns 44,976 shares of the company’s stock, valued at $2,919,392.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Albert Benchimol purchased 2,704 shares of Axis Capital stock in a transaction dated Monday, March 16th. The shares were purchased at an average cost of $37.50 per share, with a total value of $101,400.00. Following the acquisition, the chief executive officer now owns 551,009 shares of the company’s stock, valued at approximately $20,662,837.50. The disclosure for this purchase can be found here. In the last three months, insiders have bought 10,464 shares of company stock valued at $435,902. Corporate insiders own 2.00% of the company’s stock.
A number of equities analysts have commented on AXS shares. UBS Group lifted their price objective on shares of Axis Capital from $69.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Co downgraded shares of Axis Capital from an “equal weight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a report on Monday, January 6th. Finally, Zacks Investment Research raised shares of Axis Capital from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.50.
Shares of AXS opened at $39.06 on Wednesday. Axis Capital Holdings Limited has a 1 year low of $31.82 and a 1 year high of $67.51. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a fifty day moving average of $55.03 and a 200-day moving average of $59.86.
Axis Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Axis Capital had a net margin of 6.25% and a return on equity of 5.39%. The company had revenue of $786.15 million during the quarter, compared to the consensus estimate of $741.78 million. During the same quarter in the previous year, the company posted ($1.61) earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Axis Capital Holdings Limited will post 5.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Monday, March 30th. Axis Capital’s dividend payout ratio (DPR) is 65.08%.
Axis Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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