State Street Corp Grows Position in AXIS Capital Holdings Limited (NYSE:AXS)

State Street Corp boosted its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,675,417 shares of the insurance provider's stock after purchasing an additional 112,536 shares during the quarter. State Street Corp owned about 2.00% of AXIS Capital worth $134,110,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Independent Advisor Alliance lifted its position in AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider's stock valued at $2,591,000 after acquiring an additional 125 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of AXIS Capital by 0.4% during the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider's stock valued at $2,542,000 after buying an additional 127 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in 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 buying an additional 148 shares in the last quarter. Gries Financial LLC raised its holdings in shares of AXIS Capital by 4.9% in the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider's stock valued at $249,000 after purchasing an additional 166 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in AXIS Capital by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider's stock valued at $1,226,000 after buying an additional 170 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXS has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. UBS Group upped their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded AXIS Capital from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $78.00 to $89.00 in a research note on Wednesday. Finally, Bank of America increased their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AXIS Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.71.

AXIS Capital Price Performance

Shares of AXS stock traded up $0.99 during trading hours on Friday, reaching $91.77. The stock had a trading volume of 555,520 shares, compared to its average volume of 570,867. The stock's fifty day simple moving average is $85.33 and its 200 day simple moving average is $78.13. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.68 billion, a PE ratio of 12.73, a PEG ratio of 0.31 and a beta of 0.94. AXIS Capital Holdings Limited has a 12 month low of $53.49 and a 12 month high of $94.54.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business earned $2.34 EPS. On average, equities research analysts predict that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.92%. AXIS Capital's dividend payout ratio is currently 24.41%.

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.