Mitsubishi UFJ Trust & Banking Corp Sells 2,769 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,990 shares of the insurance provider's stock after selling 2,769 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in AXIS Capital were worth $1,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of AXIS Capital during the fourth quarter worth about $53,000. Versant Capital Management Inc lifted its holdings in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 285 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital during the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. bought a new position in shares of AXIS Capital during the fourth quarter valued at approximately $70,000. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on AXS shares. Wells Fargo & Company decreased 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 report on Tuesday, January 14th. StockNews.com lowered shares of AXIS Capital from a "buy" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. BMO Capital Markets began coverage on AXIS Capital in a research note on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price for the company. Finally, JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.50.

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Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

AXIS Capital Stock Performance

NYSE:AXS traded down $8.28 during trading hours on Friday, reaching $90.68. The company had a trading volume of 1,113,671 shares, compared to its average volume of 602,616. The firm's 50 day moving average price is $93.96 and its 200-day moving average price is $88.61. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 3.96 and a beta of 0.67. 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 Holdings Limited has a 52 week low of $60.45 and a 52 week high of $101.42.

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

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's dividend payout ratio is presently 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.