Pinebridge Investments L.P. purchased a new position in Axis Capital Holdings Limited (NYSE:AXS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,203 shares of the insurance provider’s stock, valued at approximately $413,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Robeco Institutional Asset Management B.V. lifted its holdings in Axis Capital by 1.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,678,214 shares of the insurance provider’s stock worth $108,514,000 after purchasing an additional 27,465 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Axis Capital by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,143,841 shares of the insurance provider’s stock worth $73,960,000 after acquiring an additional 14,526 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Axis Capital by 0.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,097,922 shares of the insurance provider’s stock worth $62,922,000 after acquiring an additional 5,941 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Axis Capital by 2,474.1% during the 3rd quarter. Bessemer Group Inc. now owns 819,192 shares of the insurance provider’s stock worth $46,948,000 after acquiring an additional 787,368 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Axis Capital by 0.3% during the 3rd quarter. Swiss National Bank now owns 759,346 shares of the insurance provider’s stock worth $43,518,000 after acquiring an additional 2,000 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on AXS. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price objective on shares of Axis Capital in a report on Friday, August 18th. UBS decreased their price objective on Axis Capital from $62.00 to $57.00 and set a “sell” rating on the stock in a report on Tuesday, September 19th. Citigroup decreased their price objective on Axis Capital from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. MKM Partners decreased their price objective on Axis Capital from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Finally, Zacks Investment Research cut Axis Capital from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Axis Capital presently has an average rating of “Hold” and an average target price of $61.45.
Axis Capital Holdings Limited (AXS) opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51. Axis Capital Holdings Limited has a 12-month low of $49.80 and a 12-month high of $71.06.
Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share 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 the consensus estimate of $972.10 million. Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. During the same period in the prior year, the firm posted $1.78 EPS. equities research analysts anticipate that Axis Capital Holdings Limited will post -2.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 annualized dividend and a dividend yield of 3.08%. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. Axis Capital’s payout ratio is currently -49.67%.
In other news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the transaction, the executive vice president now owns 6,027 shares of the company’s stock, valued at approximately $315,272.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.89% of the company’s stock.
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.
Receive News & Ratings for Axis Capital Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.