Harvest Fund Management Co. Ltd Purchases New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Harvest Fund Management Co. Ltd purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,421 shares of the insurance provider's stock, valued at approximately $924,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AXS. Franklin Resources Inc. lifted its holdings in AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock worth $30,070,000 after buying an additional 121,437 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of AXIS Capital during the third quarter worth $638,000. Verition Fund Management LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at $453,000. Geode Capital Management LLC boosted its holdings in AXIS Capital by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock valued at $100,921,000 after purchasing an additional 43,687 shares during the period. Finally, Summit Trail Advisors LLC acquired a new position in AXIS Capital during the 4th quarter worth $300,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.50% of the company's stock.

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AXIS Capital Stock Up 0.4 %

Shares of NYSE AXS traded up $0.43 during mid-day trading on Tuesday, reaching $98.67. The company had a trading volume of 961,943 shares, compared to its average volume of 565,246. The firm has a 50 day simple moving average of $92.18 and a two-hundred day simple moving average of $87.26. The stock has a market cap of $7.97 billion, a P/E ratio of 7.99, a PEG ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a 52-week low of $60.45 and a 52-week high of $98.26. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Sell-side analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, March 31st. AXIS Capital's payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AXS. StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their price target on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective for the company. Finally, JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.25.

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.