Watchtower Advisors LP Has $14.37 Million Position in Axis Capital Holdings Limited $AXS

Watchtower Advisors LP lowered its position in Axis Capital Holdings Limited (NYSE:AXS) by 42.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 150,000 shares of the insurance provider’s stock after selling 110,000 shares during the period. Axis Capital accounts for approximately 6.7% of Watchtower Advisors LP’s portfolio, making the stock its 7th largest position. Watchtower Advisors LP’s holdings in Axis Capital were worth $14,370,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Axis Capital by 12.4% in the first quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider’s stock valued at $6,361,000 after buying an additional 7,023 shares during the period. Goldman Sachs Group Inc. boosted its position in Axis Capital by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider’s stock valued at $20,605,000 after acquiring an additional 12,680 shares during the last quarter. Jane Street Group LLC grew its holdings in Axis Capital by 86.2% during the 1st quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider’s stock worth $4,739,000 after acquiring an additional 21,892 shares during the period. Focus Partners Wealth raised its position in shares of Axis Capital by 42.1% in the 1st quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider’s stock worth $1,044,000 after acquiring an additional 3,085 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Axis Capital by 33.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,924 shares of the insurance provider’s stock worth $407,000 after acquiring an additional 987 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Performance

Shares of AXS opened at $99.86 on Thursday. Axis Capital Holdings Limited has a one year low of $84.81 and a one year high of $110.34. The company has a market cap of $7.39 billion, a PE ratio of 8.06, a P/E/G ratio of 2.01 and a beta of 0.61. The stock has a 50-day moving average of $103.17 and a 200-day moving average of $100.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.38 earnings per share. On average, equities research analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital’s dividend payout ratio (DPR) is presently 14.21%.

Analyst Ratings Changes

Several equities research analysts recently commented on AXS shares. Keefe, Bruyette & Woods upped their target price on Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Compass Point set a $121.00 target price on Axis Capital in a report on Monday, November 24th. Bank of America dropped their price target on Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Weiss Ratings cut Axis Capital from a “buy (a-)” rating to a “buy (b)” rating in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of Axis Capital in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

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.