Raymond James Financial Inc. Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Raymond James Financial Inc. purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 994,978 shares of the insurance provider's stock, valued at approximately $88,175,000. Raymond James Financial Inc. owned 1.19% of AXIS Capital as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in AXIS Capital in the 4th quarter valued at $31,118,000. Principal Financial Group Inc. raised its holdings in shares of AXIS Capital by 7,053.2% in the 4th quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider's stock worth $31,366,000 after acquiring an additional 348,993 shares during the last quarter. Jennison Associates LLC raised its stake in shares of AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock worth $129,371,000 after purchasing an additional 318,784 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AXIS Capital by 131.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider's stock worth $20,265,000 after acquiring an additional 144,792 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in AXIS Capital by 48.6% in the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider's stock valued at $30,070,000 after buying an additional 121,437 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

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AXIS Capital Trading Down 0.4 %

AXIS Capital stock traded down $0.36 during trading hours on Tuesday, reaching $91.26. The company had a trading volume of 187,293 shares, compared to its average volume of 551,089. 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 12-month low of $60.45 and a 12-month high of $98.11. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a 50-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 released 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 net margin of 18.16% and a return on equity of 18.89%. Equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm 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 $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.93%. AXIS Capital's dividend payout ratio (DPR) is presently 14.25%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th. TD Cowen upped their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets began coverage on shares of 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. Wells Fargo & Company dropped their price target on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $99.88.

Insider Buying and Selling at AXIS Capital

In related 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 of the company's stock, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company's stock.

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.