AXIS Capital Holdings Limited (NYSE:AXS) Shares Bought by Jennison Associates LLC

Jennison Associates LLC boosted its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 24.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,625,057 shares of the insurance provider’s stock after buying an additional 318,784 shares during the quarter. Jennison Associates LLC’s holdings in AXIS Capital were worth $129,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new stake in shares of AXIS Capital in the first quarter valued at about $5,137,000. Entropy Technologies LP acquired a new stake in shares of AXIS Capital in the third quarter valued at about $507,000. Wealth Enhancement Advisory Services LLC grew its position in shares of AXIS Capital by 71.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,265 shares of the insurance provider’s stock valued at $1,374,000 after purchasing an additional 7,205 shares during the period. Ensign Peak Advisors Inc grew its position in shares of AXIS Capital by 84.4% in the second quarter. Ensign Peak Advisors Inc now owns 40,404 shares of the insurance provider’s stock valued at $2,855,000 after purchasing an additional 18,490 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of AXIS Capital by 32.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,887 shares of the insurance provider’s stock valued at $2,875,000 after purchasing an additional 9,380 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXIS Capital stock opened at $85.38 on Wednesday. AXIS Capital Holdings Limited has a 1 year low of $53.49 and a 1 year high of $86.92. The company’s 50 day simple moving average is $80.79 and its 200-day simple moving average is $75.50. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.29 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $2.34 EPS. As a group, equities research analysts expect that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Roth Mkm lifted their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.86.

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.