Wasatch Advisors LP Reduces Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Wasatch Advisors LP reduced its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 699,809 shares of the insurance provider's stock after selling 58,502 shares during the quarter. Wasatch Advisors LP owned 0.84% of AXIS Capital worth $62,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXS. Steward Partners Investment Advisory LLC bought a new stake in shares of AXIS Capital during the 4th quarter valued at $53,000. Versant Capital Management Inc raised its stake in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 285 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital during the 4th quarter valued at $60,000. Finally, Assetmark Inc. purchased a new position in AXIS Capital in the 4th quarter worth $70,000. 93.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXS. Keefe, Bruyette & Woods cut their target price on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group raised their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of AXIS Capital from $97.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Finally, BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.75.

AXIS Capital Stock Down 0.4 %

Shares of AXS stock traded down $0.35 during trading hours on Friday, hitting $94.60. 265,048 shares of the company's stock traded hands, compared to its average volume of 604,187. 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 stock's fifty day simple moving average is $94.11 and its two-hundred day simple moving average is $89.43. AXIS Capital Holdings Limited has a 12-month low of $60.64 and a 12-month high of $101.42. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results 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 net margin of 18.16% and a return on equity of 18.89%. On average, analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.86%. AXIS Capital's dividend payout ratio (DPR) is presently 14.25%.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the business's stock in a transaction on Monday, February 3rd. The shares were 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 in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

About AXIS Capital

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.