Point72 Asset Management L.P. Buys 91,527 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Point72 Asset Management L.P. grew its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 41.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 312,013 shares of the insurance provider's stock after purchasing an additional 91,527 shares during the period. Point72 Asset Management L.P. owned approximately 0.37% of AXIS Capital worth $24,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider's stock worth $36,000 after acquiring an additional 226 shares in the last quarter. CWM LLC lifted its holdings in AXIS Capital by 66.4% during the 2nd quarter. CWM LLC now owns 11,142 shares of the insurance provider's stock valued at $787,000 after purchasing an additional 4,448 shares during the last quarter. QRG Capital Management Inc. boosted its position in AXIS Capital by 5.0% in the second quarter. QRG Capital Management Inc. now owns 8,032 shares of the insurance provider's stock valued at $567,000 after buying an additional 383 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in AXIS Capital by 52.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,060 shares of the insurance provider's stock worth $711,000 after buying an additional 3,463 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of AXIS Capital by 3.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider's stock worth $368,000 after buying an additional 172 shares in the last quarter. Institutional investors own 93.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AXS shares. Jefferies Financial Group increased their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. UBS Group increased their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on AXIS Capital from $74.00 to $78.00 and gave the company an "underweight" rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, AXIS Capital has an average rating of "Moderate Buy" and a consensus price target of $97.14.

AXIS Capital Stock Down 1.3 %

Shares of NYSE AXS traded down $1.22 during mid-day trading on Friday, reaching $92.83. 479,992 shares of the company's stock were exchanged, compared to its average volume of 569,875. 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 business has a fifty day simple moving average of $84.01 and a 200 day simple moving average of $77.24. AXIS Capital Holdings Limited has a twelve month low of $53.49 and a twelve month high of $94.54. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.32 and a beta of 0.94.

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

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, December 31st. AXIS Capital's dividend payout ratio (DPR) is currently 24.41%.

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.