Renaissance Group LLC Cuts Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Renaissance Group LLC reduced its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,671 shares of the insurance provider's stock after selling 4,086 shares during the period. Renaissance Group LLC owned 0.11% of AXIS Capital worth $8,040,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AXS. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital during the fourth quarter valued at approximately $53,000. Versant Capital Management Inc increased its stake 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 285 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of AXIS Capital in the fourth quarter valued at about $60,000. Finally, Assetmark Inc. bought a new position in shares of AXIS Capital in the fourth quarter worth about $70,000. 93.44% of the stock is currently owned by institutional investors.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

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AXIS Capital Trading Up 1.6 %

Shares of NYSE:AXS traded up $1.45 during trading hours on Friday, hitting $92.86. 501,019 shares of the company's stock traded hands, compared to its average volume of 606,261. The firm has a market capitalization of $7.30 billion, a P/E ratio of 7.52, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67. The business has a fifty day moving average price of $93.96 and a 200-day moving average price of $89.14. AXIS Capital Holdings Limited has a 1 year low of $60.45 and a 1 year high of $101.42. 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 (NYSE:AXS - Get Free Report) last posted 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 expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date is Monday, March 31st. AXIS Capital's dividend payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of research analyst reports. BMO Capital Markets assumed coverage on AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price target on the stock. UBS Group boosted their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company raised their target price on shares of AXIS Capital from $97.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their price objective on shares of AXIS Capital from $120.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.75.

AXIS Capital Company 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.