AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis Sells 2,234,636 Shares

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) Director Charles A. Davis sold 2,234,636 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was 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 directly owns 4,543,170 shares of the company's stock, valued at $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AXIS Capital Stock Performance

NYSE:AXS traded down $0.76 on Friday, reaching $93.43. 801,582 shares of the company's stock were exchanged, compared to its average volume of 702,143. The stock has a fifty day simple moving average of $90.04 and a 200-day simple moving average of $83.03. AXIS Capital Holdings Limited has a 52 week low of $57.99 and a 52 week high of $94.89. 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 firm has a market cap of $7.82 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 3.87 and a beta of 0.95.

AXIS Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.88%. AXIS Capital's dividend payout ratio is currently 14.25%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AXS shares. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a report on Monday. StockNews.com downgraded AXIS Capital from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday. UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, TD Cowen lifted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, AXIS Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.88.

Institutional Trading of AXIS Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider's stock worth $17,009,000 after purchasing an additional 226,956 shares during the period. The Manufacturers Life Insurance Company increased its stake in AXIS Capital by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,224 shares of the insurance provider's stock worth $1,076,000 after acquiring an additional 621 shares during the last quarter. Truist Financial Corp raised its holdings in shares of AXIS Capital by 19.9% in the 2nd quarter. Truist Financial Corp now owns 9,773 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 1,620 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of AXIS Capital during the 2nd quarter valued at about $1,653,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock worth $43,000 after purchasing an additional 148 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.