Interval Partners LP Sells 29,100 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Interval Partners LP trimmed its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 26.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,405 shares of the insurance provider’s stock after selling 29,100 shares during the quarter. Interval Partners LP owned 0.10% of AXIS Capital worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital during the 4th quarter worth approximately $53,000. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 285 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital during the fourth quarter valued at $60,000. Assetmark Inc. acquired a new stake in shares of AXIS Capital in the 4th quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of AXIS Capital by 28.5% in the 4th quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 185 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Price Performance

AXS opened at $101.23 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $7.96 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82. The company’s 50 day simple moving average is $95.47 and its 200-day simple moving average is $91.37. AXIS Capital Holdings Limited has a one year low of $68.02 and a one year high of $107.00.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.53. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.83 billion. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.07 EPS. Sell-side analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, March 31st. AXIS Capital’s dividend payout ratio is 17.46%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXS. Keefe, Bruyette & Woods lifted their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Saturday, April 12th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Thursday, May 1st. BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Finally, UBS Group lifted their price objective on AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $107.75.

Insider Buying and Selling

In other AXIS Capital 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 transaction, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.