Algert Global LLC Buys 9,693 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Algert Global LLC grew its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,011 shares of the insurance provider’s stock after acquiring an additional 9,693 shares during the quarter. Algert Global LLC’s holdings in AXIS Capital were worth $6,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC increased its holdings in shares of AXIS Capital by 61.5% during the third quarter. Cerity Partners LLC now owns 52,236 shares of the insurance provider’s stock valued at $4,158,000 after acquiring an additional 19,892 shares in the last quarter. Raymond James Trust N.A. increased its holdings in AXIS Capital by 3.2% in the 3rd quarter. Raymond James Trust N.A. now owns 9,259 shares of the insurance provider’s stock worth $737,000 after buying an additional 291 shares in the last quarter. Intech Investment Management LLC bought a new stake in AXIS Capital in the 3rd quarter worth about $235,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings 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 worth $23,941,000 after buying an additional 23,377 shares in the last quarter. Finally, Jennison Associates LLC increased 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 worth $129,371,000 after buying an additional 318,784 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Trading Up 0.7 %

Shares of NYSE:AXS opened at $88.75 on Friday. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.30 and a beta of 0.90. 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 stock’s 50-day simple moving average is $81.47 and its two-hundred day simple moving average is $75.82. AXIS Capital Holdings Limited has a 52-week low of $53.49 and a 52-week high of $89.31.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm earned $2.34 EPS. Analysts expect that AXIS Capital Holdings Limited will post 10.89 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a dividend of $0.44 per share. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.98%. AXIS Capital’s payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America lifted their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group lifted their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Roth Mkm lifted their price objective on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.86.

AXIS Capital Company 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.