Bank of New York Mellon Corp Raises Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Bank of New York Mellon Corp raised its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,929 shares of the insurance provider's stock after purchasing an additional 24,891 shares during the quarter. Bank of New York Mellon Corp owned 0.37% of AXIS Capital worth $27,111,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AXS. True Wealth Design LLC acquired a new position in AXIS Capital in the third quarter valued at about $40,000. Versant Capital Management Inc increased its holdings in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 130 shares during the last quarter. Venturi Wealth Management LLC raised its position in AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 185 shares during the period. R Squared Ltd acquired a new position in AXIS Capital during the fourth quarter worth $82,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of AXIS Capital during the third quarter worth $99,000. Institutional investors and hedge funds own 93.44% of the company's stock.

AXIS Capital Stock Up 0.8 %

Shares of AXS traded up $0.70 during mid-day trading on Wednesday, reaching $92.08. The company's stock had a trading volume of 300,387 shares, compared to its average volume of 688,249. The company's 50 day moving average is $90.94 and its 200 day moving average is $86.25. The stock has a market cap of $7.44 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a 12-month low of $60.44 and a 12-month high of $98.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

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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 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%. Equities analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

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 $0.44 dividend. 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 dividend payout ratio is presently 14.25%.

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 14th. TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price target on AXIS Capital from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, AXIS Capital has a consensus rating of "Moderate Buy" and a consensus target price of $99.88.

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.