Swedbank AB Grows Stock Holdings in Axis Capital Holdings Limited $AXS

Swedbank AB grew its stake in Axis Capital Holdings Limited (NYSE:AXS) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,091 shares of the insurance provider’s stock after acquiring an additional 167,337 shares during the period. Swedbank AB owned 1.84% of Axis Capital worth $138,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Activest Wealth Management bought a new position in Axis Capital in the fourth quarter worth approximately $30,000. Fideuram Asset Management Ireland dac bought a new stake in Axis Capital during the 4th quarter valued at $47,000. Bartlett & CO. Wealth Management LLC bought a new stake in Axis Capital during the 4th quarter valued at $51,000. DV Equities LLC purchased a new stake in shares of Axis Capital in the 4th quarter worth $54,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Axis Capital in the 4th quarter worth $55,000. Institutional investors own 93.44% of the company’s stock.

Insider Activity at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the sale, the director directly owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Axis Capital Trading Up 1.2%

Shares of NYSE:AXS opened at $114.37 on Wednesday. The company has a market capitalization of $8.43 billion, a PE ratio of 8.52, a P/E/G ratio of 3.46 and a beta of 0.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $115.91. The business’s fifty day simple moving average is $101.35 and its 200-day simple moving average is $102.39.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business posted $3.17 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that Axis Capital Holdings Limited will post 13.25 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.5%. Axis Capital’s payout ratio is currently 13.11%.

Analyst Ratings Changes

Several equities analysts have recently commented on AXS shares. Bank of America cut their price target on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Mizuho set a $137.00 price objective on shares of Axis Capital in a research note on Monday, May 4th. Weiss Ratings cut shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Wells Fargo & Company cut their target price on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Axis Capital presently has an average rating of “Moderate Buy” and a consensus target price of $122.10.

Axis Capital 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.