Brandywine Global Investment Management LLC Grows Stock Holdings in Axis Capital Holdings Limited $AXS

Brandywine Global Investment Management LLC increased its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 21.1% in the 4th quarter, Holdings Channel reports. The firm owned 102,373 shares of the insurance provider’s stock after buying an additional 17,805 shares during the period. Brandywine Global Investment Management LLC’s holdings in Axis Capital were worth $10,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Activest Wealth Management purchased a new stake in Axis Capital during the fourth quarter valued at approximately $30,000. Abich Financial Wealth Management LLC purchased a new stake in Axis Capital during the third quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac purchased a new stake in Axis Capital during the fourth quarter valued at approximately $47,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Axis Capital during the fourth quarter valued at approximately $51,000. Finally, Bayforest Capital Ltd purchased a new stake in Axis Capital during the fourth quarter valued at approximately $55,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Stock Performance

AXS opened at $97.66 on Wednesday. The firm has a market cap of $7.20 billion, a P/E ratio of 7.28, a PEG ratio of 2.94 and a beta of 0.51. Axis Capital Holdings Limited has a 1-year low of $88.07 and a 1-year high of $110.34. The company has a 50 day simple moving average of $99.34 and a two-hundred day simple moving average of $101.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65.

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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share. Equities analysts forecast that Axis Capital Holdings Limited will post 13.25 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

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

Insider Buying and Selling at Axis Capital

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

Wall Street Analysts Forecast Growth

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

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.