Poinciana Advisors Group LLC Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Poinciana Advisors Group LLC bought a new position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,658 shares of the insurance provider's stock, valued at approximately $324,000.

A number of other hedge funds have also added to or reduced their stakes in AXS. Versor Investments LP bought a new position in AXIS Capital in the 3rd quarter worth about $247,000. Entropy Technologies LP bought a new position in AXIS Capital in the 3rd quarter worth about $507,000. CIBC Asset Management Inc bought a new position in AXIS Capital in the 3rd quarter worth about $212,000. Pathstone Holdings LLC lifted its position in shares of AXIS Capital by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider's stock worth $2,542,000 after purchasing an additional 127 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of AXIS Capital in the 3rd quarter worth approximately $190,000. 93.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital 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 directly owns 2,404,133 shares of the company's stock, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

AXS has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price target for the company. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. TD Cowen increased their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their price target 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.25.

AXIS Capital Stock Performance

Shares of NYSE:AXS traded up $0.10 during midday trading on Wednesday, reaching $94.97. The company's stock had a trading volume of 830,595 shares, compared to its average volume of 555,475. The firm has a market capitalization of $7.67 billion, a PE ratio of 7.69, a P/E/G 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. The stock has a fifty day moving average of $91.46 and a 200 day moving average of $86.78. AXIS Capital Holdings Limited has a twelve month low of $60.45 and a twelve month high of $98.11.

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

AXIS Capital Dividend Announcement

The business also recently disclosed 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 1.85%. The ex-dividend date is Monday, March 31st. AXIS Capital's payout ratio is 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.