Fmr LLC Sells 29,821 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

FMR LLC reduced its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 29.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,189 shares of the insurance provider's stock after selling 29,821 shares during the quarter. FMR LLC owned 0.09% of AXIS Capital worth $5,747,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in AXIS Capital by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider's stock worth $1,226,000 after purchasing an additional 170 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of AXIS Capital in the third quarter valued at approximately $4,249,000. Independent Advisor Alliance raised its holdings in AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider's stock valued at $2,591,000 after buying an additional 125 shares during the last quarter. Algert Global LLC boosted its position in AXIS Capital by 12.5% during the 3rd quarter. Algert Global LLC now owns 87,011 shares of the insurance provider's stock worth $6,927,000 after buying an additional 9,693 shares during the period. Finally, Cerity Partners LLC grew its holdings in AXIS Capital by 61.5% during the 3rd quarter. Cerity Partners LLC now owns 52,236 shares of the insurance provider's stock worth $4,158,000 after acquiring an additional 19,892 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXS has been the subject of several analyst reports. UBS Group raised their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Wells Fargo & Company raised AXIS Capital from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $78.00 to $89.00 in a research note on Wednesday. TD Cowen raised their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Bank of America upped their target price on AXIS Capital from $81.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.71.

AXIS Capital Trading Up 1.1 %

Shares of AXIS Capital stock traded up $1.02 on Friday, hitting $91.80. 555,478 shares of the company's stock traded hands, compared to its average volume of 570,867. The company has a fifty day moving average of $85.13 and a two-hundred day moving average of $77.90. AXIS Capital Holdings Limited has a one year low of $53.49 and a one year high of $94.54. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. 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 (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $2.34 EPS. As a group, sell-side analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.92%. AXIS Capital's dividend payout ratio is currently 24.41%.

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.