JPMorgan Chase & Co. Sells 32,831 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

JPMorgan Chase & Co. decreased its holdings in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,372 shares of the insurance provider's stock after selling 32,831 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of AXIS Capital worth $10,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC purchased a new position in AXIS Capital during the second quarter worth about $258,000. Dimensional Fund Advisors LP increased its stake in AXIS Capital by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider's stock worth $287,909,000 after acquiring an additional 152,914 shares during the last quarter. Renaissance Technologies LLC increased its stake in AXIS Capital by 235.6% during the second quarter. Renaissance Technologies LLC now owns 165,100 shares of the insurance provider's stock worth $11,664,000 after acquiring an additional 115,900 shares during the last quarter. Argent Trust Co acquired a new stake in AXIS Capital during the second quarter worth about $205,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in AXIS Capital by 3.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 9,527 shares of the insurance provider's stock worth $673,000 after acquiring an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

AXIS Capital Stock Up 0.4 %

Shares of AXIS Capital stock traded up $0.30 during midday trading on Monday, hitting $85.84. The company's stock had a trading volume of 669,629 shares, compared to its average volume of 590,004. The firm has a market capitalization of $7.18 billion, a P/E ratio of 11.91, a PEG ratio of 0.31 and a beta of 0.95. The stock has a 50-day simple moving average of $88.65 and a 200-day simple moving average of $80.64. 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 $53.88 and a 1-year high of $94.89.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, sell-side analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 2.05%. AXIS Capital's dividend payout ratio is 24.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday. They issued a "market perform" rating and a $93.00 target price for the company. Jefferies Financial Group increased their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $108.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday. Bank of America raised their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company upgraded AXIS Capital from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $78.00 to $89.00 in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.75.

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.