Proficio Capital Partners LLC Buys New Position in AXIS Capital Holdings Limited (NYSE:AXS)

Proficio Capital Partners LLC purchased a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,876 shares of the insurance provider's stock, valued at approximately $1,673,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. bought a new stake in shares of AXIS Capital during the fourth quarter valued at about $70,000. Steward Partners Investment Advisory LLC bought a new stake in shares of AXIS Capital during the fourth quarter valued at about $53,000. SBI Securities Co. Ltd. bought a new stake in shares of AXIS Capital during the fourth quarter valued at about $60,000. Connable Office Inc. bought a new stake in shares of AXIS Capital during the fourth quarter valued at about $219,000. Finally, SVB Wealth LLC bought a new position in shares of AXIS Capital in the fourth quarter worth approximately $260,000. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXS. Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, March 13th. StockNews.com upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th. BMO Capital Markets began 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 objective on the stock. Finally, JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, AXIS Capital currently has a consensus rating of "Moderate Buy" and an average target price of $100.25.

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Insider Activity

In other news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now owns 4,543,170 shares of the company's stock, valued at approximately $406,613,715. This represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

AXIS Capital Price Performance

AXS traded down $0.02 during midday trading on Friday, hitting $95.00. The stock had a trading volume of 2,203,213 shares, compared to its average volume of 564,266. The company has a market cap of $7.67 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The business has a fifty day moving average of $91.93 and a 200 day moving average of $87.06. 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 1 year low of $60.45 and a 1 year high of $98.11.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share 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%. As a group, equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) 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.