Allspring Global Investments Holdings LLC Sells 61,209 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Allspring Global Investments Holdings LLC cut its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,122,176 shares of the insurance provider's stock after selling 61,209 shares during the period. Allspring Global Investments Holdings LLC owned 1.34% of AXIS Capital worth $99,726,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC acquired a new position in AXIS Capital in the 4th quarter valued at about $300,000. Elevate Capital Advisors LLC acquired a new position in AXIS Capital in the 4th quarter valued at about $1,840,000. Savant Capital LLC grew its stake in AXIS Capital by 0.6% in the 4th quarter. Savant Capital LLC now owns 46,627 shares of the insurance provider's stock valued at $4,132,000 after buying an additional 283 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in AXIS Capital in the 4th quarter valued at about $337,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in AXIS Capital in the 4th quarter valued at about $248,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.50% of the company's stock.

AXIS Capital Price Performance

Shares of NYSE AXS traded down $1.26 during trading hours on Friday, hitting $89.99. 621,598 shares of the stock were exchanged, compared to its average volume of 696,762. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $7.53 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 4.01 and a beta of 0.95. The company's fifty day simple moving average is $89.76 and its two-hundred day simple moving average is $83.93. AXIS Capital Holdings Limited has a 1-year low of $60.06 and a 1-year high of $94.89.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, sell-side analysts predict that AXIS Capital Holdings Limited will post 11.36 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.96%. AXIS Capital's dividend payout ratio is 14.25%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AXS. TD Cowen upped their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Monday, February 10th. BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.88.

About AXIS Capital

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.