Bridgewater Associates LP Boosts Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Bridgewater Associates LP raised its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 92.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,123 shares of the insurance provider's stock after buying an additional 38,577 shares during the quarter. Bridgewater Associates LP owned about 0.10% of AXIS Capital worth $6,379,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of AXIS Capital by 8,717.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider's stock worth $96,172,000 after purchasing an additional 1,345,811 shares during the last quarter. Jennison Associates LLC increased its stake in AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock valued at $129,371,000 after purchasing an additional 318,784 shares in the last quarter. Millennium Management LLC raised its holdings in AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider's stock worth $17,009,000 after buying an additional 226,956 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of AXIS Capital by 9.0% in the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider's stock worth $182,538,000 after buying an additional 213,559 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of AXIS Capital by 113.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 315,018 shares of the insurance provider's stock valued at $20,484,000 after buying an additional 167,114 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

AXIS Capital Stock Performance

Shares of AXIS Capital stock traded down $0.81 during trading hours on Friday, reaching $93.04. 511,710 shares of the stock traded hands, compared to its average volume of 571,403. The company has a 50 day moving average price of $82.84 and a 200 day moving average price of $76.60. AXIS Capital Holdings Limited has a one year low of $53.49 and a one year high of $94.39. 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 firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.32 and a beta of 0.90.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same quarter last year, the company earned $2.34 earnings per share. On average, equities research analysts expect that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.89%. AXIS Capital's payout ratio is 24.41%.

Analysts Set New Price Targets

AXS has been the topic of several analyst reports. Jefferies Financial Group upped their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Bank of America upped their price target on AXIS Capital from $81.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on AXIS Capital from $74.00 to $78.00 and gave the stock an "underweight" rating in a report on Thursday, October 10th. TD Cowen boosted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of AXIS Capital from $94.00 to $96.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $97.14.

AXIS Capital Company 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.