Vestcor Inc Invests $853,000 in AXIS Capital Holdings Limited (NYSE:AXS)

Vestcor Inc acquired a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,716 shares of the insurance provider's stock, valued at approximately $853,000.

Several other large investors also recently bought and sold shares of AXS. True Wealth Design LLC purchased a new stake in AXIS Capital during the 3rd quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock worth $43,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. lifted its holdings in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider's stock valued at $97,000 after acquiring an additional 985 shares during the period. Capital Performance Advisors LLP purchased a new position in AXIS Capital in the third quarter worth about $99,000. Finally, GAMMA Investing LLC grew its stake in shares of AXIS Capital by 158.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider's stock valued at $104,000 after purchasing an additional 801 shares during the period. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Price Performance

AXIS Capital stock traded up $1.02 during mid-day trading on Friday, hitting $91.80. The stock had a trading volume of 555,478 shares, compared to its average volume of 570,867. AXIS Capital Holdings Limited has a one year low of $53.49 and a one year high of $94.54. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.68 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.31 and a beta of 0.94. The firm's 50 day moving average is $85.33 and its 200 day moving average is $78.04.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.16. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same quarter in the prior year, the company posted $2.34 earnings per share. On average, sell-side analysts forecast that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, December 31st. AXIS Capital's payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AXS shares. Wells Fargo & Company raised shares of AXIS Capital from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $78.00 to $89.00 in a report on Wednesday. UBS Group lifted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Bank of America upped their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their price target on AXIS Capital from $88.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AXIS Capital currently has an average rating of "Moderate Buy" and an average price target of $98.71.

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.