Royce & Associates LP Decreases Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Royce & Associates LP lowered its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,193 shares of the insurance provider's stock after selling 78,787 shares during the period. Royce & Associates LP owned about 0.44% of AXIS Capital worth $29,153,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AXS. Versant Capital Management Inc increased its position in shares of AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC increased its holdings in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider's stock valued at $36,000 after buying an additional 226 shares during the last quarter. Covestor Ltd raised its position in AXIS Capital by 45.9% in the first quarter. Covestor Ltd now owns 588 shares of the insurance provider's stock worth $38,000 after acquiring an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock worth $43,000 after acquiring an additional 148 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider's stock worth $97,000 after acquiring an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company's stock.

AXIS Capital Price Performance

AXS traded up $1.65 on Friday, hitting $86.73. 543,330 shares of the company's stock traded hands, compared to its average volume of 573,065. AXIS Capital Holdings Limited has a one year low of $53.48 and a one year high of $86.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 0.29 and a beta of 0.90. The company's 50 day simple moving average is $80.42 and its 200-day simple moving average is $75.12.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter last year, the business posted $2.34 earnings per share. As a group, research analysts anticipate that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital's dividend payout ratio (DPR) is presently 24.41%.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. TD Cowen assumed coverage on AXIS Capital in a research report on Friday, October 4th. They issued a "buy" rating and a $118.00 price target for the company. Roth Mkm lifted their price objective on AXIS Capital from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. UBS Group increased their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.86.

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.