Sit Investment Associates Inc. Sells 3,555 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Sit Investment Associates Inc. cut its position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,055 shares of the insurance provider's stock after selling 3,555 shares during the period. Sit Investment Associates Inc. owned about 0.14% of AXIS Capital worth $10,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in AXIS Capital by 48.6% during 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 in the last quarter. HighTower Advisors LLC bought a new stake in AXIS Capital in the 3rd quarter valued at $638,000. Verition Fund Management LLC purchased a new stake in AXIS Capital in the 3rd quarter worth $453,000. Geode Capital Management LLC boosted its holdings in shares of AXIS Capital by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock valued at $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in shares of AXIS Capital during the fourth quarter valued at about $300,000. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Trading Up 1.2 %

NYSE:AXS traded up $1.13 during mid-day trading on Friday, hitting $92.54. 157,510 shares of the stock traded hands, compared to its average volume of 604,501. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 3.96 and a beta of 0.67. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $101.42. The firm's 50 day moving average is $93.91 and its two-hundred day moving average is $88.97.

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AXIS Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, equities research analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently announced 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 1.90%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's dividend payout ratio is currently 14.25%.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares of the company's stock, valued at $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

AXS has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a research note on Wednesday. StockNews.com cut shares of AXIS Capital from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. BMO Capital Markets assumed coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price on the stock. Finally, UBS Group increased their price target on shares of AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.75.

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.