Axis Capital Holdings Limited $AXS Shares Sold by Savant Capital LLC

Savant Capital LLC lowered its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 15.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 60,242 shares of the insurance provider’s stock after selling 11,311 shares during the quarter. Savant Capital LLC owned about 0.08% of Axis Capital worth $5,771,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smithfield Trust Co raised its position in Axis Capital by 94.0% during 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 purchased a new stake in shares of Axis Capital in the 3rd quarter valued at $29,000. AlphaCore Capital LLC acquired a new stake in shares of Axis Capital in the second quarter worth $37,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Axis Capital during the second quarter worth $41,000. Finally, Allworth Financial LP lifted its position in Axis Capital by 145.1% during the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 344 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Axis Capital Stock Up 0.3%

Shares of AXS opened at $106.51 on Friday. The firm has a market cap of $8.21 billion, a P/E ratio of 8.60, a PEG ratio of 3.18 and a beta of 0.63. Axis Capital Holdings Limited has a 12 month low of $84.81 and a 12 month high of $110.34. The stock’s 50 day moving average is $103.88 and its two-hundred day moving average is $99.10. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. Axis Capital had a return on equity of 18.90% and a net margin of 15.37%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $3.38 EPS. The business’s revenue was up 17.8% 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, December 31st. Axis Capital’s payout ratio is 14.21%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AXS shares. Royal Bank Of Canada lifted their price objective on Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Bank of America reduced their price target on Axis Capital from $119.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Roth Mkm reissued a “buy” rating and issued a $120.00 price target on shares of Axis Capital in a report on Thursday, January 29th. Wells Fargo & Company lowered their price objective on Axis Capital from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

About Axis Capital

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.