Cannon Global Investment Management LLC Takes $815,000 Position in AXIS Capital Holdings Limited (NYSE:AXS)

Cannon Global Investment Management LLC acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,200 shares of the insurance provider's stock, valued at approximately $815,000. AXIS Capital accounts for approximately 1.8% of Cannon Global Investment Management LLC's holdings, making the stock its 14th largest holding.

A number of other hedge funds also recently bought and sold shares of AXS. True Wealth Design LLC acquired a new stake in shares of AXIS Capital during the third quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC acquired a new stake in AXIS Capital during the 4th quarter valued at $53,000. Versant Capital Management Inc lifted its holdings in shares of AXIS Capital by 24.0% in the fourth 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after buying an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of AXIS Capital during the fourth quarter valued at $60,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXS has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $118.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday. BMO Capital Markets began coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price for the company. StockNews.com upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th. Finally, JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, AXIS Capital presently has an average rating of "Moderate Buy" and an average target price of $100.50.

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Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares of the company's stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

AXIS Capital Stock Performance

Shares of AXS stock traded down $0.07 during trading hours on Friday, reaching $99.57. 800,856 shares of the company's stock were exchanged, compared to its average volume of 600,524. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $101.42. 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 has a market capitalization of $8.04 billion, a P/E ratio of 8.06, a P/E/G ratio of 3.96 and a beta of 0.91. The business has a fifty day moving average price of $93.00 and a 200-day moving average price of $87.74.

AXIS Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 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 1.77%. The ex-dividend date is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) is presently 14.25%.

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.