Entropy Technologies LP Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Entropy Technologies LP bought a new position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,364 shares of the insurance provider's stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXS. Victory Capital Management Inc. boosted its stake in shares of AXIS Capital by 8,717.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider's stock worth $96,172,000 after buying an additional 1,345,811 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of AXIS Capital by 30.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider's stock worth $150,928,000 after buying an additional 545,546 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in shares of AXIS Capital during the 1st quarter worth about $17,065,000. Millennium Management LLC boosted its stake in shares of AXIS Capital by 1,644.8% during the 2nd 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. Finally, AQR Capital Management LLC raised its holdings in shares of AXIS Capital by 9.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider's stock valued at $182,538,000 after purchasing an additional 213,559 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXS. Wells Fargo & Company upped their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company an "underweight" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price 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. UBS Group upped their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a report on Monday, November 4th. Jefferies Financial Group upped their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, TD Cowen began coverage on shares of AXIS Capital in a report on Friday, October 4th. They issued a "buy" rating and a $118.00 target price on the stock. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, AXIS Capital currently has an average rating of "Moderate Buy" and an average target price of $95.86.

AXIS Capital Stock Performance

AXIS Capital stock traded up $1.65 during trading hours on Friday, hitting $86.73. The company had a trading volume of 543,330 shares, compared to its average volume of 573,065. The firm has a market cap of $7.26 billion, a PE ratio of 12.03, a PEG ratio of 0.29 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a one year low of $53.48 and a one year high of $86.92. The firm has a 50-day moving average of $80.42 and a 200 day moving average of $75.02.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $2.34 EPS. On average, sell-side analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.03%. AXIS Capital's payout ratio is presently 24.41%.

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.