Strs Ohio Cuts Holdings in Axis Capital Holdings Limited $AXS

Strs Ohio trimmed its position in Axis Capital Holdings Limited (NYSE:AXS) by 46.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 42,214 shares of the insurance provider’s stock after selling 36,254 shares during the period. Strs Ohio’s holdings in Axis Capital were worth $4,044,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Smithfield Trust Co boosted its stake in shares of Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after buying an additional 142 shares during the last quarter. Root Financial Partners LLC bought a new stake in Axis Capital during the third quarter worth $29,000. AlphaCore Capital LLC bought a new position in Axis Capital in the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Axis Capital during the 2nd quarter valued at $41,000. Finally, Allworth Financial LP raised its stake in shares of Axis Capital by 145.1% during the 2nd quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 344 shares during the period. Institutional investors own 93.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AXS shares. Compass Point set a $121.00 price target on shares of Axis Capital in a research report on Monday, November 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $110.00 price target on shares of Axis Capital in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Mizuho started coverage on shares of Axis Capital in a report on Monday, December 15th. They set an “outperform” rating and a $133.00 price objective on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.89.

Axis Capital Stock Performance

NYSE AXS opened at $103.15 on Tuesday. The company’s 50 day simple moving average is $103.30 and its two-hundred day simple moving average is $98.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. Axis Capital Holdings Limited has a 1 year low of $84.81 and a 1 year high of $110.34. The stock has a market capitalization of $7.95 billion, a PE ratio of 8.52, a P/E/G ratio of 0.96 and a beta of 0.65.

Axis Capital (NYSE:AXS) last released its quarterly earnings results 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. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is 14.55%.

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.