Victory Capital Management Inc. Lowers Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Victory Capital Management Inc. cut its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,354,678 shares of the insurance provider's stock after selling 39,813 shares during the period. Victory Capital Management Inc. owned 1.62% of AXIS Capital worth $120,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Independent Advisor Alliance raised its holdings in AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider's stock worth $2,591,000 after purchasing an additional 125 shares during the period. Pathstone Holdings LLC raised its stake in shares of AXIS Capital by 0.4% in the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider's stock worth $2,542,000 after buying an additional 127 shares during the period. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 130 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of AXIS Capital by 7.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider's stock valued at $171,000 after buying an additional 134 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider's stock valued at $248,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

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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 stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXS. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on 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. TD Cowen boosted their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 target price for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $99.88.

AXIS Capital Price Performance

Shares of AXS stock traded down $0.65 during trading hours on Friday, hitting $92.01. The stock 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 has a market capitalization of $7.43 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a one year low of $60.45 and a one year high of $98.11. The stock's 50-day moving average price is $90.83 and its two-hundred day moving average price is $85.89.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

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

AXIS Capital 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.