AXIS Capital Holdings Limited (NYSE:AXS) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 48.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 371,557 shares of the insurance provider's stock after acquiring an additional 121,437 shares during the quarter. Franklin Resources Inc. owned approximately 0.44% of AXIS Capital worth $30,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of AXIS Capital during the third quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock worth $43,000 after buying an additional 148 shares during the period. Blue Trust Inc. increased its stake in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider's stock valued at $97,000 after buying an additional 985 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of AXIS Capital in the third quarter valued at about $99,000. Finally, GAMMA Investing LLC lifted its stake in AXIS Capital by 158.0% in the third quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider's stock worth $104,000 after acquiring an additional 801 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target 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. UBS Group upped their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Keefe, Bruyette & Woods lifted their price target on AXIS Capital from $94.00 to $96.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. TD Cowen upped their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company upgraded AXIS Capital from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $78.00 to $89.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.71.

AXIS Capital Stock Down 0.7 %

Shares of AXS traded down $0.59 during mid-day trading on Thursday, hitting $87.61. 895,682 shares of the company traded hands, compared to its average volume of 574,069. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 1-year low of $53.49 and a 1-year high of $94.89. The company has a market capitalization of $7.33 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. The business has a 50 day moving average of $85.99 and a 200 day moving average of $78.47.

AXIS Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $2.34 EPS. Equities research analysts anticipate that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Tuesday, December 31st. AXIS Capital's dividend payout ratio (DPR) is 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.