AGF Management Ltd. Sells 11,238 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

AGF Management Ltd. cut its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,818 shares of the insurance provider's stock after selling 11,238 shares during the quarter. AGF Management Ltd.'s holdings in AXIS Capital were worth $2,554,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AXS. True Wealth Design LLC purchased a new position in AXIS Capital during the third quarter valued at $40,000. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital during the 4th quarter valued at about $53,000. Versant Capital Management Inc increased its holdings in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 130 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital in the fourth quarter worth about $60,000. Finally, Assetmark Inc. bought a new position in AXIS Capital during the fourth quarter valued at approximately $70,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXS has been the subject of a number of research reports. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th. TD Cowen upped their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AXIS Capital presently has an average rating of "Moderate Buy" and an average target price of $100.25.

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Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company's stock.

AXIS Capital Trading Up 1.9 %

NYSE:AXS traded up $1.78 during mid-day trading on Monday, hitting $95.61. 881,116 shares of the stock traded hands, compared to its average volume of 555,726. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $98.11. The firm's 50 day moving average is $91.16 and its two-hundred day moving average is $86.57.

AXIS Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, equities research analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.84%. AXIS Capital's dividend payout ratio (DPR) is 14.25%.

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.