Los Angeles Capital Management LLC Sells 23,815 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Los Angeles Capital Management LLC trimmed its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,231 shares of the insurance provider's stock after selling 23,815 shares during the quarter. Los Angeles Capital Management LLC owned 0.48% of AXIS Capital worth $35,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in AXIS Capital by 48.6% during the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock valued at $30,070,000 after purchasing an additional 121,437 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of AXIS Capital in the third quarter valued at approximately $638,000. Verition Fund Management LLC bought a new position in shares of AXIS Capital in the third quarter valued at approximately $453,000. Entropy Technologies LP bought a new position in shares of AXIS Capital in the third quarter valued at approximately $507,000. Finally, Jennison Associates LLC raised its stake in shares of AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock valued at $129,371,000 after acquiring an additional 318,784 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Trading Up 0.6 %

NYSE:AXS traded up $0.61 during trading hours on Friday, hitting $96.89. 753,314 shares of the stock were exchanged, compared to its average volume of 681,872. The company's 50 day moving average is $90.38 and its two-hundred day moving average is $85.19. AXIS Capital Holdings Limited has a twelve month low of $60.06 and a twelve month high of $97.33. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.11 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95.

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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 for the quarter, beating analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) is currently 14.25%.

Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AXS shares. TD Cowen lifted their target price 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. BMO Capital Markets started coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price for the company. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price 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. Finally, Wells Fargo & Company cut their target price on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.