Tower Research Capital LLC TRC lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 71.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787 shares of the insurance provider’s stock after selling 1,963 shares during the period. Tower Research Capital LLC TRC’s holdings in Axis Capital were worth $53,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new position in shares of Axis Capital during the second quarter valued at approximately $25,000. McIlrath & Eck LLC purchased a new stake in shares of Axis Capital in the third quarter valued at approximately $31,000. Aperio Group LLC purchased a new stake in shares of Axis Capital in the second quarter valued at approximately $44,000. Financial Gravity Wealth Inc. boosted its holdings in shares of Axis Capital by 302.4% in the second quarter. Financial Gravity Wealth Inc. now owns 1,014 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 762 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Axis Capital by 142.9% in the third quarter. AdvisorNet Financial Inc now owns 1,020 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 90.04% of the company’s stock.
A number of brokerages recently issued reports on AXS. Buckingham Research boosted their price target on Axis Capital from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 12th. ValuEngine lowered Axis Capital from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group lowered their price target on Axis Capital from $73.00 to $69.00 and set a “buy” rating for the company in a report on Monday, November 4th. TheStreet lowered Axis Capital from a “b” rating to a “c+” rating in a report on Tuesday, October 29th. Finally, MKM Partners boosted their price target on Axis Capital from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Axis Capital has a consensus rating of “Hold” and an average price target of $69.00.
Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Tuesday, October 29th. The insurance provider reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($1.21). The business had revenue of $856.08 million during the quarter, compared to the consensus estimate of $927.73 million. Axis Capital had a return on equity of 2.02% and a net margin of 2.68%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, sell-side analysts expect that Axis Capital Holdings Limited will post 2.84 EPS for the current year.
About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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