Insider Selling: AXIS Capital Holdings Limited (NYSE:AXS) Director Sells 2,139,037 Shares of Stock

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AXIS Capital Stock Performance

Shares of NYSE:AXS traded down $0.65 during trading on Friday, reaching $92.01. The company had a trading volume of 727,040 shares, compared to its average volume of 551,388. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock's fifty day moving average price is $90.83 and its 200 day moving average price is $85.89. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $98.11. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91.

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

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AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, March 31st. AXIS Capital's dividend payout ratio is presently 14.25%.

Hedge Funds Weigh In On AXIS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in AXIS Capital by 71.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,265 shares of the insurance provider's stock worth $1,374,000 after acquiring an additional 7,205 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of AXIS Capital by 1,870.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 58,376 shares of the insurance provider's stock worth $4,647,000 after purchasing an additional 55,414 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of AXIS Capital in the 3rd quarter valued at about $99,000. Versor Investments LP acquired a new stake in shares of AXIS Capital in the third quarter valued at about $247,000. Finally, Entropy Technologies LP purchased a new stake in AXIS Capital during the third quarter worth about $507,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AXS shares. TD Cowen lifted their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their target price on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price target on AXIS Capital from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Finally, JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AXIS Capital presently has a consensus rating of "Moderate Buy" and an average target price of $99.88.

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.