Shell Asset Management Co. lessened its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) by 12.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 11,613 shares of the insurance provider’s stock after selling 1,716 shares during the period. Shell Asset Management Co.’s holdings in AXIS Capital were worth $702,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Outfitter Financial LLC acquired a new stake in shares of AXIS Capital during the 4th quarter worth about $155,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of AXIS Capital during the 1st quarter worth about $184,000. Advisor Group Holdings Inc. raised its position in shares of AXIS Capital by 14.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,425 shares of the insurance provider’s stock worth $186,000 after acquiring an additional 444 shares in the last quarter. CIBC Asset Management Inc purchased a new position in AXIS Capital during the 4th quarter worth approximately $200,000. Finally, Miracle Mile Advisors LLC purchased a new position in AXIS Capital during the 1st quarter worth approximately $206,000. Institutional investors and hedge funds own 93.67% of the company’s stock.
AXIS Capital Trading Down 3.4 %
Shares of AXS stock opened at $48.77 on Tuesday. The business’s 50 day moving average is $55.39 and its two-hundred day moving average is $56.02. AXIS Capital Holdings Limited has a twelve month low of $44.49 and a twelve month high of $61.39. The company has a market capitalization of $4.16 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 1.58 and a beta of 0.75. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36.
AXIS Capital (NYSE:AXS – Get Rating) last announced its earnings results on Tuesday, July 26th. The insurance provider reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.21. AXIS Capital had a return on equity of 11.81% and a net margin of 8.55%. During the same period in the prior year, the company posted $2.00 EPS. Equities analysts forecast that AXIS Capital Holdings Limited will post 6.39 EPS for the current year.
AXIS Capital Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.72 annualized dividend and a dividend yield of 3.53%. AXIS Capital’s dividend payout ratio is currently 35.54%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on AXIS Capital from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. TheStreet downgraded AXIS Capital from a “b” rating to a “c+” rating in a research note on Tuesday, July 26th. Finally, StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.00.
AXIS Capital Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
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