Sit Investment Associates Inc. Sells 3,555 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Sit Investment Associates Inc. lessened its position in AXIS Capital Holdings Limited (NYSE:AXS) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,055 shares of the insurance provider’s stock after selling 3,555 shares during the period. Sit Investment Associates Inc. owned approximately 0.14% of AXIS Capital worth $10,285,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in AXIS Capital by 1.7% during the 4th quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after purchasing an additional 53,514 shares in the last quarter. State Street Corp boosted its position in AXIS Capital by 7.2% during the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock worth $134,110,000 after acquiring an additional 112,536 shares during the last quarter. Jennison Associates LLC grew its stake in shares of AXIS Capital by 1.6% during the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock worth $146,309,000 after acquiring an additional 25,908 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AXIS Capital by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock valued at $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of AXIS Capital in the fourth quarter worth $88,175,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

AXIS Capital Stock Performance

Shares of AXS opened at $90.68 on Friday. The firm’s fifty day simple moving average is $93.96 and its two-hundred day simple moving average is $88.54. AXIS Capital Holdings Limited has a 12 month low of $60.45 and a 12 month high of $101.42. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.33 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS) last released 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%. As a group, analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.94%. AXIS Capital’s payout ratio is 14.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AXS shares. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. BMO Capital Markets initiated coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target for the company. StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

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.