Federated Hermes Inc. Sells 3,912 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Federated Hermes Inc. lowered its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,232 shares of the insurance provider's stock after selling 3,912 shares during the quarter. Federated Hermes Inc. owned 0.06% of AXIS Capital worth $4,629,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. raised its position in AXIS Capital by 1.7% during the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider's stock valued at $281,680,000 after purchasing an additional 53,514 shares in the last quarter. State Street Corp increased its position in shares of AXIS Capital by 7.2% during the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider's stock valued at $134,110,000 after purchasing an additional 112,536 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of AXIS Capital by 1.6% during the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider's stock valued at $146,309,000 after buying an additional 25,908 shares in the last quarter. Geode Capital Management LLC lifted its position in AXIS Capital by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock worth $100,921,000 after buying an additional 43,687 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AXIS Capital in the fourth quarter worth approximately $88,175,000. 93.44% of the stock is owned by institutional investors.

Remove Ads

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AXS. Keefe, Bruyette & Woods decreased their price target on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. Jefferies Financial Group upped their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company lifted their price objective on AXIS Capital from $97.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, April 10th. Finally, UBS Group boosted their target price 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $106.75.

AXIS Capital Trading Up 0.1 %

NYSE:AXS traded up $0.07 during mid-day trading on Tuesday, reaching $94.62. 617,456 shares of the company's stock traded hands, compared to its average volume of 605,416. The company has a 50 day moving average price of $94.02 and a 200-day moving average price of $89.28. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 3.96 and a beta of 0.67. 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 12-month low of $60.45 and a 12-month high of $101.42.

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, 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%. On average, sell-side analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.86%. AXIS Capital's dividend payout ratio is 14.25%.

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.