Pzena Investment Management LLC Reduces Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Pzena Investment Management LLC lessened its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 62.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,236 shares of the insurance provider's stock after selling 368,016 shares during the quarter. Pzena Investment Management LLC owned 0.27% of AXIS Capital worth $19,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its position in AXIS Capital by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider's stock worth $2,591,000 after acquiring an additional 125 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of AXIS Capital by 0.4% during the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider's stock valued at $2,542,000 after purchasing an additional 127 shares during the period. Versant Capital Management Inc grew its holdings in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 130 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of AXIS Capital by 7.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider's stock worth $171,000 after buying an additional 134 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider's stock valued at $248,000 after buying an additional 137 shares during the last quarter. Institutional investors own 93.44% of the company's stock.

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AXIS Capital Stock Down 0.2 %

NYSE:AXS traded down $0.14 during mid-day trading on Tuesday, hitting $91.48. 440,179 shares of the company's stock were exchanged, compared to its average volume of 552,178. The company has a market cap of $7.39 billion, a PE ratio of 7.41, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a one year low of $60.45 and a one year high of $98.11. The business has a fifty day moving average price of $90.89 and a 200 day moving average price of $86.15.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) is 14.25%.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction 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 sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. JMP Securities restated a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price objective for the company. Wells Fargo & Company cut their price objective on 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. Finally, StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $99.88.

About AXIS Capital

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.