Schwab Charles Investment Management Inc. increased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,803 shares of the insurance provider’s stock after purchasing an additional 4,852 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.38% of Axis Capital worth $18,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Blair William & Co. IL lifted its holdings in shares of Axis Capital by 0.3% during the second quarter. Blair William & Co. IL now owns 9,850 shares of the insurance provider’s stock valued at $637,000 after purchasing an additional 33 shares in the last quarter. M&T Bank Corp increased its position in Axis Capital by 0.3% in the second quarter. M&T Bank Corp now owns 13,137 shares of the insurance provider’s stock worth $849,000 after buying an additional 42 shares in the last quarter. AMG Funds LLC increased its position in Axis Capital by 0.4% in the second quarter. AMG Funds LLC now owns 21,193 shares of the insurance provider’s stock worth $1,370,000 after buying an additional 82 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Axis Capital by 2.9% during the second quarter. Advisory Services Network LLC now owns 8,111 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 225 shares in the last quarter. Finally, Aperio Group LLC grew its position in shares of Axis Capital by 8.2% during the second quarter. Aperio Group LLC now owns 4,757 shares of the insurance provider’s stock worth $308,000 after purchasing an additional 361 shares in the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of Axis Capital 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 completion of the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at approximately $315,272.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by insiders.
Shares of Axis Capital Holdings Limited (AXS) traded down $0.02 during trading hours on Friday, hitting $49.11. The stock had a trading volume of 968,856 shares, compared to its average volume of 836,889. Axis Capital Holdings Limited has a twelve month low of $48.00 and a twelve month high of $71.06. The stock has a market cap of $4,090.00, a P/E ratio of -16.00, a PEG ratio of 1.27 and a beta of 0.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.51 and a quick ratio of 0.51.
Axis Capital (NYSE:AXS) last announced 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). Axis Capital had a negative return on equity of 2.59% and a negative net margin of 4.55%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $972.10 million. During the same quarter last year, the firm earned $1.78 earnings per share. sell-side analysts forecast that Axis Capital Holdings Limited will post -2.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.18%. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Axis Capital’s payout ratio is -50.81%.
A number of equities analysts recently commented on the company. UBS Group raised Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price target for the company in a research note on Thursday. Wells Fargo & Co raised Axis Capital from an “underperform” rating to a “market perform” rating in a research note on Tuesday. ValuEngine raised Axis Capital from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Axis Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 27th. Finally, Morgan Stanley decreased their price target on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.45.
Axis Capital Company 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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