California Public Employees Retirement System increased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,652 shares of the insurance provider’s stock after buying an additional 13,407 shares during the quarter. California Public Employees Retirement System owned 0.40% of Axis Capital worth $19,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in AXS. BlueMountain Capital Management LLC raised its holdings in Axis Capital by 62.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 979 shares during the period. Quantbot Technologies LP acquired a new position in Axis Capital in the 2nd quarter worth about $203,000. The Manufacturers Life Insurance Company acquired a new position in shares of Axis Capital during the second quarter valued at approximately $207,000. Toronto Dominion Bank raised its holdings in shares of Axis Capital by 237.6% during the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 2,514 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of Axis Capital during the third quarter valued at approximately $224,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.
Axis Capital Holdings Limited (NYSE AXS) traded down $0.02 during trading on Friday, reaching $49.11. The company’s stock had a trading volume of 968,856 shares, compared to its average volume of 849,518. Axis Capital Holdings Limited has a one year low of $48.00 and a one year high of $71.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $4,080.00, a PE ratio of -16.00, a PEG ratio of 1.27 and a beta of 0.58.
Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($5.34) by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $972.10 million. Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. During the same quarter in the prior year, the business earned $1.78 earnings per share. analysts anticipate that Axis Capital Holdings Limited will post -2.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. This is a positive change from Axis Capital’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. Axis Capital’s dividend payout ratio (DPR) is presently -50.81%.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the transaction, the executive vice president now owns 6,027 shares of the company’s stock, valued at $315,272.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.89% of the company’s stock.
A number of equities analysts have commented on AXS shares. Bank of America reduced their target price on Axis Capital from $73.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 13th. ValuEngine lowered Axis Capital from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Zacks Investment Research upgraded Axis Capital from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Wells Fargo & Co upgraded Axis Capital from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.45.
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About Axis Capital
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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