Summit Global Investments Has $1.39 Million Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Summit Global Investments lessened its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,728 shares of the insurance provider’s stock after selling 429 shares during the quarter. Summit Global Investments’ holdings in AXIS Capital were worth $1,394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after buying an additional 121,437 shares during the period. HighTower Advisors LLC acquired a new position in AXIS Capital during the third quarter worth $638,000. Verition Fund Management LLC acquired a new position in AXIS Capital during the third quarter worth $453,000. Geode Capital Management LLC boosted its holdings in AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in AXIS Capital during the fourth quarter worth $300,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,139,037 shares of the firm’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 transaction, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AXS has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Wells Fargo & Company reduced 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 report on Tuesday, January 14th. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, AXIS Capital presently has a consensus rating of “Moderate Buy” and an average target price of $100.25.

AXIS Capital Price Performance

Shares of AXS opened at $95.00 on Friday. The firm has a market capitalization of $7.67 billion, a PE ratio of 7.69, a PEG ratio of 3.96 and a beta of 0.91. The company’s 50-day moving average is $91.93 and its 200-day moving average is $87.06. 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 current ratio of 0.60 and a quick ratio of 0.60.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating 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 forecast that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, March 31st. 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.