Harvest Fund Management Co. Ltd Takes Position in AXIS Capital Holdings Limited (NYSE:AXS)

Harvest Fund Management Co. Ltd acquired a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,421 shares of the insurance provider’s stock, valued at approximately $924,000.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the third quarter valued at $40,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of AXIS Capital during the fourth quarter valued at $53,000. Versant Capital Management Inc grew its holdings in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital during the fourth quarter valued at $60,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,139,037 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

AXIS Capital Trading Down 0.0 %

Shares of AXIS Capital stock opened at $94.87 on Friday. The firm has a 50-day simple moving average of $91.74 and a two-hundred day simple moving average of $86.90. The company has a market cap of $7.66 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $98.11. 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 (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share 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%. As a group, equities analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.86%. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their target price 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. TD Cowen boosted their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of AXIS Capital from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AXIS Capital has a consensus rating of “Moderate Buy” and a consensus target price of $100.25.

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.