Axis Capital Holdings Limited $AXS Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,387,004 shares of the insurance provider’s stock after buying an additional 10,246 shares during the period. Geode Capital Management LLC’s holdings in Axis Capital were worth $148,565,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXS. Johnson Investment Counsel Inc. lifted its stake in shares of Axis Capital by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 1,222,932 shares of the insurance provider’s stock valued at $117,157,000 after buying an additional 6,571 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Axis Capital during the third quarter worth approximately $1,118,000. Vanguard Group Inc. boosted its position in Axis Capital by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,954,373 shares of the insurance provider’s stock worth $762,029,000 after acquiring an additional 43,901 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Axis Capital by 27.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 439,989 shares of the insurance provider’s stock worth $47,118,000 after acquiring an additional 95,207 shares during the last quarter. Finally, Causeway Capital Management LLC boosted its position in Axis Capital by 31.8% during the third quarter. Causeway Capital Management LLC now owns 836,861 shares of the insurance provider’s stock worth $80,171,000 after acquiring an additional 201,880 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Performance

NYSE:AXS opened at $95.37 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.03 billion, a P/E ratio of 7.11, a P/E/G ratio of 2.89 and a beta of 0.51. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34. The firm’s 50 day moving average is $99.51 and its two-hundred day moving average is $101.85.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. Axis Capital’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. Analysts expect that Axis Capital Holdings Limited will post 13.24 EPS for the current year.

Axis Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. Axis Capital’s dividend payout ratio (DPR) is currently 13.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXS. Wells Fargo & Company decreased their target price on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, May 22nd. Mizuho set a $137.00 target price on shares of Axis Capital in a research report on Monday, May 4th. Keefe, Bruyette & Woods decreased their target price on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Bank of America decreased their target price on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.10.

Insiders Place Their Bets

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.