AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,916 shares of the insurance provider’s stock after selling 19,907 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of AXIS Capital worth $12,133,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Independent Advisor Alliance lifted its position in AXIS Capital by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after acquiring an additional 125 shares during the period. Pathstone Holdings LLC lifted its position in AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after acquiring an additional 127 shares during the period. Versant Capital Management Inc lifted its position in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in AXIS Capital by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

Shares of AXIS Capital stock opened at $90.19 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a twelve month low of $54.31 and a twelve month high of $94.89. The business has a 50-day moving average price of $89.29 and a 200 day moving average price of $81.20. The firm has a market cap of $7.54 billion, a PE ratio of 12.51, a P/E/G ratio of 0.28 and a beta of 0.95.

AXIS Capital (NYSE:AXS) 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 return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned $2.34 EPS. Sell-side analysts predict that AXIS Capital Holdings Limited will post 10.88 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.95%. AXIS Capital’s dividend payout ratio (DPR) is currently 24.41%.

Analysts Set New Price Targets

AXS has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America lifted their price objective on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on AXIS Capital from $108.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. TD Cowen lifted their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus price target of $99.25.

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.