Charles A. Davis Sells 2,234,636 Shares of AXIS Capital Holdings Limited (NYSE:AXS) Stock

AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the transaction, the director now owns 4,543,170 shares of the company’s stock, valued at $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

AXIS Capital Trading Up 0.2 %

NYSE:AXS opened at $90.37 on Wednesday. The firm’s fifty day moving average is $90.06 and its 200-day moving average is $82.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital Holdings Limited has a 52 week low of $56.93 and a 52 week high of $94.89. The firm has a market cap of $7.56 billion, a P/E ratio of 7.32, a P/E/G ratio of 3.87 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Equities analysts expect that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s payout ratio is currently 14.25%.

Wall Street Analysts Forecast Growth

AXS has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on shares of 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 upped their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com cut shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, UBS Group boosted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Swedbank AB purchased a new stake in shares of AXIS Capital in the fourth quarter valued at about $31,118,000. Principal Financial Group Inc. increased its holdings in AXIS Capital by 7,053.2% during the fourth quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider’s stock worth $31,366,000 after buying an additional 348,993 shares during the last quarter. Jennison Associates LLC increased its holdings in AXIS Capital by 24.4% during the third 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 during the last quarter. Millennium Management LLC increased its stake in shares of AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock worth $17,009,000 after purchasing an additional 226,956 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $20,265,000 after purchasing an additional 144,792 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

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.