Charles Schwab Investment Management Inc. Reduces Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Charles Schwab Investment Management Inc. trimmed its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 770,849 shares of the insurance provider's stock after selling 82,713 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.92% of AXIS Capital worth $68,313,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its position 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 worth $30,070,000 after purchasing an additional 121,437 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of AXIS Capital during the third quarter worth approximately $638,000. Verition Fund Management LLC purchased a new stake in shares of AXIS Capital during the third quarter worth approximately $453,000. Entropy Technologies LP acquired a new position in AXIS Capital during the third quarter worth $507,000. Finally, Jennison Associates LLC boosted its stake in AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock worth $129,371,000 after buying an additional 318,784 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Price Performance

AXS opened at $91.48 on Wednesday. The stock's 50-day moving average price is $90.89 and its 200 day moving average price is $86.15. AXIS Capital Holdings Limited has a 12-month low of $60.45 and a 12-month high of $98.11. 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 firm has a market cap of $7.39 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 3.96 and a beta of 0.91.

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AXIS Capital (NYSE:AXS - Get Free Report) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, sell-side analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.92%. AXIS Capital's dividend payout ratio (DPR) is 14.25%.

Insiders Place Their Bets

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 stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares in the company, 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 this link. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th. BMO Capital Markets began coverage on AXIS Capital in a research note on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective on the stock. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. TD Cowen upped their price target on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.88.

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.

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