Los Angeles Capital Management LLC Decreases Position in AXIS Capital Holdings Limited (NYSE:AXS)

Los Angeles Capital Management LLC cut its stake in shares of AXIS Capital Holdings Limited (NYSE:AXSFree Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443,546 shares of the insurance provider’s stock after selling 45,010 shares during the period. Los Angeles Capital Management LLC’s holdings in AXIS Capital were worth $28,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Steph & Co. raised its position in AXIS Capital by 2.3% during the fourth quarter. Steph & Co. now owns 10,028 shares of the insurance provider’s stock valued at $555,000 after purchasing an additional 225 shares during the period. Parkside Financial Bank & Trust raised its position in AXIS Capital by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 237 shares during the period. Linden Thomas Advisory Services LLC raised its position in AXIS Capital by 1.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,830 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 241 shares during the period. Raymond James Trust N.A. raised its position in AXIS Capital by 2.9% during the fourth quarter. Raymond James Trust N.A. now owns 8,688 shares of the insurance provider’s stock valued at $481,000 after purchasing an additional 246 shares during the period. Finally, Intrust Bank NA grew its stake 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 valued at $332,000 after buying an additional 294 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXS. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $86.00 price objective on shares of AXIS Capital in a research note on Monday. Wells Fargo & Company increased their price objective on AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Finally, StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.33.

Read Our Latest Research Report on AXIS Capital

AXIS Capital Stock Up 1.7 %

NYSE AXS traded up $1.19 during midday trading on Wednesday, hitting $70.82. 303,872 shares of the company traded hands, compared to its average volume of 478,262. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $6.00 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.89. The company’s 50-day simple moving average is $67.82 and its 200-day simple moving average is $62.25. AXIS Capital Holdings Limited has a 52 week low of $52.02 and a 52 week high of $74.05.

AXIS Capital (NYSE:AXSGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.40 by $0.17. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.11 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.49%. AXIS Capital’s dividend payout ratio (DPR) is 26.91%.

Insider Buying and Selling

In other news, Director W Marston Becker bought 3,025 shares of AXIS Capital stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the purchase, the director now directly owns 21,821 shares of the company’s stock, valued at approximately $1,452,842.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Stanley A. Galanski purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $71.43 per share, with a total value of $142,860.00. Following the transaction, the director now owns 11,763 shares of the company’s stock, valued at $840,231.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Marston Becker purchased 3,025 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $66.58 per share, for a total transaction of $201,404.50. Following the completion of the transaction, the director now directly owns 21,821 shares in the company, valued at approximately $1,452,842.18. The disclosure for this purchase can be found here. Insiders bought 6,425 shares of company stock worth $444,351 in the last 90 days. Insiders own 0.50% of the company’s stock.

AXIS Capital Company Profile

(Free Report)

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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Institutional Ownership by Quarter for AXIS Capital (NYSE:AXS)

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