Wedge Capital Management L L P NC Has $8.49 Million Position in Axis Capital Holdings Limited $AXS

Wedge Capital Management L L P NC lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 79,034 shares of the insurance provider’s stock after selling 5,930 shares during the period. Wedge Capital Management L L P NC’s holdings in Axis Capital were worth $8,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXS. Activest Wealth Management bought a new position in shares of Axis Capital in the fourth quarter valued at about $30,000. Assetmark Inc. grew its holdings in Axis Capital by 80.8% during the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Axis Capital during the 1st quarter worth about $43,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital in the 4th quarter valued at about $47,000. Finally, DV Equities LLC acquired a new stake in Axis Capital in the 4th quarter valued at about $54,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AXS shares. Capital One Financial set a $108.00 target price on shares of Axis Capital in a research report on Wednesday, July 29th. Atlantic Securities set a $122.00 price target on shares of Axis Capital in a report on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their price objective on shares of Axis Capital from $131.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Mizuho reduced their price objective on Axis Capital from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Axis Capital in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Axis Capital currently has an average rating of “Moderate Buy” and an average target price of $120.50.

Axis Capital Stock Performance

Shares of NYSE:AXS opened at $99.29 on Thursday. The stock has a market capitalization of $7.24 billion, a P/E ratio of 7.05, a P/E/G ratio of 4.33 and a beta of 0.50. Axis Capital Holdings Limited has a 1-year low of $88.07 and a 1-year high of $119.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $107.27 and a two-hundred day moving average price of $103.31.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.41). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 earnings per share. Equities analysts predict that Axis Capital Holdings Limited will post 12.58 earnings per share for the current year.

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.