Integrated Wealth Concepts LLC Purchases Shares of 36,617 AXIS Capital Holdings Limited (NYSE:AXS)

Integrated Wealth Concepts LLC bought a new stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,617 shares of the insurance provider's stock, valued at approximately $2,915,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider's stock worth $36,000 after buying an additional 226 shares in the last quarter. True Wealth Design LLC bought a new stake in AXIS Capital during the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. raised its position in AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. boosted its stake in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider's stock worth $97,000 after purchasing an additional 985 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of AXIS Capital during the third quarter worth $99,000. Institutional investors and hedge funds own 93.44% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AXS shares. Bank of America upped their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company an "underweight" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, UBS Group boosted their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.14.

AXIS Capital Trading Down 1.3 %

NYSE:AXS traded down $1.22 during mid-day trading on Friday, hitting $92.83. The company had a trading volume of 479,992 shares, compared to its average volume of 569,875. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital Holdings Limited has a fifty-two week low of $53.49 and a fifty-two week high of $94.54. The firm has a market cap of $7.77 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.32 and a beta of 0.94. The business's fifty day moving average is $84.01 and its two-hundred day moving average is $77.24.

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

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, December 31st. AXIS Capital's payout ratio is presently 24.41%.

AXIS Capital 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.