SG Americas Securities LLC Takes Position in Axis Capital Holdings Limited $AXS

SG Americas Securities LLC acquired a new stake in Axis Capital Holdings Limited (NYSE:AXS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,070 shares of the insurance provider’s stock, valued at approximately $582,000.

Other hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its position in Axis Capital by 16.4% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 28,400 shares of the insurance provider’s stock valued at $2,733,000 after buying an additional 4,000 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Axis Capital by 48.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 236,326 shares of the insurance provider’s stock valued at $22,640,000 after acquiring an additional 77,390 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Axis Capital in the third quarter valued at $1,841,000. Synergy Asset Management LLC grew its stake in Axis Capital by 63.2% during the 3rd quarter. Synergy Asset Management LLC now owns 352,050 shares of the insurance provider’s stock worth $33,726,000 after purchasing an additional 136,313 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in Axis Capital by 31.1% during the 3rd quarter. True Wealth Design LLC now owns 882 shares of the insurance provider’s stock worth $84,000 after purchasing an additional 209 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 Axis Capital stock opened at $102.92 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.27. Axis Capital Holdings Limited has a 52 week low of $84.81 and a 52 week high of $110.34. The firm’s 50 day moving average is $103.25 and its two-hundred day moving average is $98.63. The firm has a market capitalization of $7.93 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.04 and a beta of 0.65.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.53. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. Research analysts forecast that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, December 31st. Axis Capital’s dividend payout ratio is currently 14.55%.

Analysts Set New Price Targets

A number of research firms have issued reports on AXS. UBS Group increased their price target on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Axis Capital in a report on Monday, December 29th. Bank of America reiterated a “neutral” rating and issued a $115.00 price target (down previously from $116.00) on shares of Axis Capital in a research note on Tuesday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $110.00 price target on shares of Axis Capital in a report on Wednesday, January 7th. Finally, Mizuho initiated coverage on shares of Axis Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $133.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.89.

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.