Johnson Investment Counsel Inc. Reduces Position in AXIS Capital Holdings Limited (NYSE:AXS)

Johnson Investment Counsel Inc. lessened its stake in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,312,018 shares of the insurance provider's stock after selling 34,425 shares during the quarter. AXIS Capital makes up approximately 1.1% of Johnson Investment Counsel Inc.'s portfolio, making the stock its 17th biggest holding. Johnson Investment Counsel Inc. owned 1.57% of AXIS Capital worth $116,271,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. True Wealth Design LLC bought a new stake in shares of AXIS Capital in the third quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC bought a new stake in AXIS Capital during the 4th quarter valued at $53,000. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after acquiring an additional 130 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital during the fourth quarter worth $60,000. Finally, Assetmark Inc. purchased a new stake in shares of AXIS Capital during the fourth quarter worth $70,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of the 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 transaction, the director now owns 2,404,133 shares of the company's stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Finally, 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 target for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AXIS Capital has a consensus rating of "Moderate Buy" and an average target price of $99.88.

AXIS Capital Price Performance

Shares of NYSE AXS traded up $0.29 during mid-day trading on Tuesday, reaching $91.91. 248,981 shares of the company were exchanged, compared to its average volume of 551,373. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $98.11. The company's 50 day moving average price is $90.89 and its 200 day moving average price is $86.15. The stock has a market capitalization of $7.42 billion, a PE ratio of 7.44, a PEG ratio of 3.96 and a beta of 0.91. 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 (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Sell-side analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, March 31st. AXIS Capital's payout ratio is currently 14.25%.

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.