Geode Capital Management LLC Buys 43,687 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Geode Capital Management LLC increased its position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,267,338 shares of the insurance provider's stock after acquiring an additional 43,687 shares during the period. Geode Capital Management LLC owned approximately 1.51% of AXIS Capital worth $100,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of AXIS Capital in the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. grew its position in AXIS Capital by 32.6% in the second 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 last quarter. Blue Trust Inc. increased its holdings in shares of AXIS Capital by 424.6% in 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of AXIS Capital during the 3rd quarter valued at $99,000. Finally, GAMMA Investing LLC boosted its stake in shares of AXIS Capital by 158.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider's stock worth $104,000 after acquiring an additional 801 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded shares of AXIS Capital from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $78.00 to $89.00 in a report on Wednesday, December 11th. Keefe, Bruyette & Woods raised their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their target price 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.71.

AXIS Capital Stock Down 0.7 %

AXS traded down $0.59 on Thursday, reaching $87.61. 895,682 shares of the company traded hands, compared to its average volume of 574,069. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 12.15, a PEG 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. The stock's 50 day moving average price is $85.99 and its 200-day moving average price is $78.47. AXIS Capital Holdings Limited has a 52-week low of $53.49 and a 52-week high of $94.89.

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

AXIS Capital Dividend Announcement

The company also recently declared 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 2.01%. AXIS Capital's dividend payout ratio is 24.41%.

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.