Y Intercept Hong Kong Ltd Takes $246,000 Position in AXIS Capital Holdings Limited (NYSE:AXS)

Y Intercept Hong Kong Ltd acquired a new position in AXIS Capital Holdings Limited (NYSE:AXS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,779 shares of the insurance provider's stock, valued at approximately $246,000.

Several other institutional investors have also modified their holdings of AXS. Swedbank AB bought a new stake in AXIS Capital in the fourth quarter worth about $31,118,000. Principal Financial Group Inc. lifted its holdings in 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 valued at $31,366,000 after acquiring an additional 348,993 shares during the last quarter. Jennison Associates LLC lifted its holdings in 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 acquiring an additional 318,784 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $20,265,000 after acquiring an additional 144,792 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings 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 acquiring 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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Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. Finally, 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 research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.88.

AXIS Capital Stock Down 0.7 %

Shares of NYSE AXS traded down $0.65 during mid-day trading on Friday, reaching $92.01. The company had a trading volume of 727,040 shares, compared to its average volume of 550,911. The stock has a fifty day moving average of $90.83 and a two-hundred day moving average of $85.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a 12-month low of $60.45 and a 12-month high of $98.11.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) is 14.25%.

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.