Altrinsic Global Advisors LLC trimmed its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,355,908 shares of the insurance provider's stock after selling 263,102 shares during the period. AXIS Capital accounts for about 5.8% of Altrinsic Global Advisors LLC's investment portfolio, making the stock its 6th biggest holding. Altrinsic Global Advisors LLC owned approximately 1.62% of AXIS Capital worth $120,161,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Dark Forest Capital Management LP lifted its stake in AXIS Capital by 41.7% in the fourth quarter. Dark Forest Capital Management LP now owns 17,324 shares of the insurance provider's stock valued at $1,535,000 after buying an additional 5,095 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of AXIS Capital in the 4th quarter valued at approximately $1,679,000. Stifel Financial Corp boosted its stake in AXIS Capital by 2.7% during the 4th quarter. Stifel Financial Corp now owns 32,720 shares of the insurance provider's stock worth $2,900,000 after acquiring an additional 861 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in AXIS Capital by 1,495.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,748 shares of the insurance provider's stock valued at $598,000 after purchasing an additional 6,325 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in AXIS Capital by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,247 shares of the insurance provider's stock valued at $367,265,000 after purchasing an additional 17,764 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AXS has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company boosted their target price on AXIS Capital from $97.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, April 10th. UBS Group increased their price target on AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. BMO Capital Markets initiated coverage on AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective on the stock. Finally, StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.75.
View Our Latest Research Report on AXIS Capital
AXIS Capital Stock Up 4.4 %
Shares of AXIS Capital stock opened at $95.99 on Wednesday. AXIS Capital Holdings Limited has a 52-week low of $60.64 and a 52-week high of $101.42. 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 business's 50 day simple moving average is $94.34 and its 200 day simple moving average is $89.78. The firm has a market cap of $7.55 billion, a PE ratio of 7.77, a P/E/G ratio of 3.96 and a beta of 0.67.
AXIS Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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, analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.
AXIS Capital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 31st were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. AXIS Capital's dividend payout ratio is 14.25%.
Insider Buying and Selling at AXIS Capital
In related news, Director Charles A. Davis sold 2,139,037 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.
AXIS Capital Profile
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Free Report)
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.
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