SG Americas Securities LLC reduced its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,385 shares of the insurance provider’s stock after selling 2,562 shares during the quarter. SG Americas Securities LLC’s holdings in Axis Capital were worth $767,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of AXS. Bessemer Group Inc. raised its stake in shares of Axis Capital by 2,474.1% during the third quarter. Bessemer Group Inc. now owns 819,192 shares of the insurance provider’s stock valued at $46,948,000 after purchasing an additional 787,368 shares in the last quarter. Janus Henderson Group PLC raised its position in Axis Capital by 5,369.7% in the second quarter. Janus Henderson Group PLC now owns 695,588 shares of the insurance provider’s stock worth $44,976,000 after acquiring an additional 682,871 shares in the last quarter. Renaissance Technologies LLC raised its position in Axis Capital by 190.4% in the second quarter. Renaissance Technologies LLC now owns 480,100 shares of the insurance provider’s stock worth $31,043,000 after acquiring an additional 314,800 shares in the last quarter. PGGM Investments raised its position in Axis Capital by 171.9% in the third quarter. PGGM Investments now owns 333,839 shares of the insurance provider’s stock worth $19,132,000 after acquiring an additional 211,079 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in Axis Capital by 1,061.3% in the second quarter. Citadel Advisors LLC now owns 220,595 shares of the insurance provider’s stock worth $14,264,000 after acquiring an additional 201,600 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
Shares of Axis Capital Holdings Limited (AXS) opened at $50.47 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.21. Axis Capital Holdings Limited has a twelve month low of $50.23 and a twelve month high of $71.06.
Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($5.34) by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $972.10 million. Axis Capital had a negative return on equity of 2.59% and a negative net margin of 4.55%. During the same quarter in the previous year, the firm posted $1.78 EPS. equities research analysts predict that Axis Capital Holdings Limited will post -2.2 earnings per share for the current year.
Several brokerages have commented on AXS. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 price target on shares of Axis Capital in a research report on Friday, August 18th. UBS dropped their price target on shares of Axis Capital from $62.00 to $57.00 and set a “sell” rating on the stock in a research report on Tuesday, September 19th. Citigroup dropped their price target on shares of Axis Capital from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. MKM Partners dropped their price target on shares of Axis Capital from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.45.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the sale, the executive vice president now owns 6,027 shares in the company, valued at approximately $315,272.37. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.89% of the stock is currently owned by insiders.
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Axis Capital Profile
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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