Bank of Nova Scotia Increases Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Bank of Nova Scotia lifted its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,531 shares of the insurance provider's stock after buying an additional 74,192 shares during the period. Bank of Nova Scotia owned approximately 0.24% of AXIS Capital worth $17,860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of 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 during the period. HighTower Advisors LLC purchased a new stake in AXIS Capital during the 3rd quarter valued at $638,000. Verition Fund Management LLC purchased a new stake in shares of AXIS Capital during the third quarter worth about $453,000. Geode Capital Management LLC increased its holdings in AXIS Capital by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock valued at $100,921,000 after purchasing an additional 43,687 shares during the period. Finally, Summit Trail Advisors LLC bought a new position in AXIS Capital during the 4th quarter valued at approximately $300,000. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXS has been the topic of several research analyst reports. StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company raised their target price on shares of AXIS Capital from $97.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research note on Monday, January 13th. They set a "market perform" rating and a $93.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned 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 price target of $106.75.

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AXIS Capital Stock Up 0.3 %

AXIS Capital stock traded up $0.28 during mid-day trading on Tuesday, hitting $94.83. The company had a trading volume of 128,163 shares, compared to its average volume of 745,956. AXIS Capital Holdings Limited has a 12 month low of $60.44 and a 12 month high of $101.42. The company has a market capitalization of $7.46 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67. The stock's 50 day moving average price is $94.01 and its two-hundred day moving average price is $89.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27.

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%. As a group, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.86%. AXIS Capital's payout ratio is currently 14.25%.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.