R Squared Ltd Takes $82,000 Position in AXIS Capital Holdings Limited (NYSE:AXS)

R Squared Ltd purchased a new position in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 928 shares of the insurance provider’s stock, valued at approximately $82,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC increased its position 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 purchasing an additional 318,784 shares during the last quarter. Millennium Management LLC raised its position in AXIS Capital by 1,644.8% during the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after acquiring an additional 226,956 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AXIS Capital by 131.9% in the third 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. Franklin Resources Inc. grew its position in AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after acquiring an additional 121,437 shares in the last quarter. Finally, State Street Corp grew its position in AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock worth $134,110,000 after acquiring an additional 112,536 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AXS shares. BMO Capital Markets started coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective for the company. StockNews.com cut AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group increased their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus price target of $99.25.

AXIS Capital Trading Down 1.9 %

Shares of AXS stock opened at $90.98 on Friday. 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 firm has a fifty day moving average of $90.09 and a 200-day moving average of $82.50. AXIS Capital Holdings Limited has a 52-week low of $55.56 and a 52-week high of $94.89. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 7.37, a P/E/G ratio of 0.29 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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%. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 11.45 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.93%. AXIS Capital’s payout ratio is presently 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.