Hillsdale Investment Management Inc. Purchases 5,600 Shares of Axis Capital Holdings Limited $AXS

Hillsdale Investment Management Inc. raised its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,400 shares of the insurance provider’s stock after acquiring an additional 5,600 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.06% of Axis Capital worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXS. Orion Porfolio Solutions LLC increased its position in Axis Capital by 5.0% in the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 100 shares during the last quarter. Truist Financial Corp raised its stake in Axis Capital by 2.3% during the fourth quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Axis Capital by 2.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock valued at $577,000 after purchasing an additional 107 shares during the last quarter. Stifel Financial Corp lifted its position in Axis Capital by 0.3% during the fourth quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock valued at $3,975,000 after purchasing an additional 122 shares during the last quarter. Finally, Evoke Wealth LLC grew its stake in shares of Axis Capital by 6.0% in the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider’s stock worth $304,000 after buying an additional 161 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Axis Capital Stock Down 1.7%

Axis Capital stock opened at $112.60 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25. The firm has a market cap of $8.30 billion, a P/E ratio of 8.39, a P/E/G ratio of 3.51 and a beta of 0.49. The business has a fifty day moving average of $102.72 and a two-hundred day moving average of $102.55. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $115.91.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $3.17 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts forecast that Axis Capital Holdings Limited will post 13.2 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, June 30th. Axis Capital’s payout ratio is 13.11%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of Axis Capital from $119.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group lifted their target price on Axis Capital from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. Finally, Bank of America dropped their price objective on Axis Capital from $115.00 to $106.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.70.

Insider Buying and Selling

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction that occurred on 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 owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by insiders.

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.