Axis Capital Holdings Limited $AXS Stock Position Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in Axis Capital Holdings Limited (NYSE:AXS) by 75.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,700 shares of the insurance provider’s stock after selling 11,334 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Axis Capital were worth $375,000 as of its most recent filing with the SEC.

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

Axis Capital Price Performance

NYSE:AXS opened at $113.76 on Friday. 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 $8.39 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.49. Axis Capital Holdings Limited has a 12 month low of $88.07 and a 12 month high of $115.91. The company’s 50-day moving average price is $103.24 and its two-hundred day moving average price is $102.60.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $3.17 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Axis Capital Holdings Limited will post 13.2 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.44 per share. The ex-dividend date was 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%.

Insider Activity

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the sale, the director owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXS. Atlantic Securities set a $122.00 target price on Axis Capital in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Axis Capital from $126.00 to $131.00 and gave the company an “outperform” rating in a research 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. UBS Group upped their target price on shares of Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Mizuho raised their price target on shares of Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.45.

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.