Dark Forest Capital Management LP Has $1.54 Million Position in AXIS Capital Holdings Limited (NYSE:AXS)

Dark Forest Capital Management LP raised its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,324 shares of the insurance provider's stock after purchasing an additional 5,095 shares during the quarter. Dark Forest Capital Management LP's holdings in AXIS Capital were worth $1,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in shares of AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock worth $30,070,000 after buying an additional 121,437 shares during the last quarter. Summit Trail Advisors LLC bought a new stake in shares of AXIS Capital during the fourth quarter worth approximately $300,000. Merit Financial Group LLC acquired a new position in shares of AXIS Capital in the fourth quarter valued at approximately $549,000. Elevate Capital Advisors LLC bought a new position in shares of AXIS Capital during the fourth quarter worth approximately $1,840,000. Finally, Versant Capital Management Inc lifted its holdings in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 130 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

AXIS Capital Stock Up 4.4 %

NYSE AXS opened at $95.99 on Wednesday. AXIS Capital Holdings Limited has a fifty-two week low of $60.64 and a fifty-two week high of $101.42. The business has a fifty day moving average price of $94.34 and a two-hundred day moving average price of $89.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $7.55 billion, a PE ratio of 7.77, a PEG ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating 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%. Equities analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 31st. AXIS Capital's dividend payout ratio is 14.25%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AXS shares. Wells Fargo & Company increased their price objective on AXIS Capital from $97.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Jefferies Financial Group lifted their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods decreased their target price on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. StockNews.com upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Finally, UBS Group boosted their price target on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $106.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.