Tidal Investments LLC Makes New $1 Million Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Tidal Investments LLC acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,656 shares of the insurance provider's stock, valued at approximately $1,004,000.

Several other hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in AXIS Capital during the third quarter valued at approximately $453,000. Entropy Technologies LP bought a new position in shares of AXIS Capital in the third quarter worth about $507,000. Jennison Associates LLC boosted its stake in shares of AXIS Capital by 24.4% in the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock valued at $129,371,000 after purchasing an additional 318,784 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in AXIS Capital during the 3rd quarter worth approximately $4,249,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in AXIS Capital by 8.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 300,726 shares of the insurance provider's stock valued at $23,941,000 after purchasing an additional 23,377 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXS. UBS Group raised their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a report on Monday, November 4th. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Jefferies Financial Group raised their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Bank of America raised their target price on AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upgraded AXIS Capital from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $78.00 to $89.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.71.

AXIS Capital Stock Up 2.8 %

NYSE AXS traded up $2.42 during mid-day trading on Friday, hitting $90.03. The company's stock had a trading volume of 1,117,226 shares, compared to its average volume of 576,278. 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 company's 50 day simple moving average is $86.14 and its 200 day simple moving average is $78.53. AXIS Capital Holdings Limited has a twelve month low of $53.49 and a twelve month high of $94.89. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.31 and a beta of 0.94.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share 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 business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter last year, the firm earned $2.34 EPS. Analysts anticipate that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, December 31st. AXIS Capital's payout ratio is 24.41%.

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.