Axis Capital (NYSE:AXS) Director Sells $519,391.95 in Stock

Axis Capital Holdings Limited (NYSE:AXS) Director Henry Smith sold 4,893 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $106.15, for a total transaction of $519,391.95. Following the transaction, the director directly owned 41,454 shares in the company, valued at $4,400,342.10. The trade was a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Axis Capital Stock Up 1.9%

Axis Capital stock opened at $107.78 on Thursday. Axis Capital Holdings Limited has a fifty-two week low of $93.02 and a fifty-two week high of $119.99. The stock has a market cap of $7.73 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 3.51 and a beta of 0.39. The firm’s 50-day simple moving average is $99.18 and its 200 day simple moving average is $102.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.27. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.69 billion. Axis Capital had a net margin of 14.62% and a return on equity of 16.61%. During the same period in the prior year, the firm posted $3.25 EPS. Research analysts predict that Axis Capital Holdings Limited will post 12.44 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, September 30th. Axis Capital’s payout ratio is presently 13.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Axis Capital by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,682,238 shares of the insurance provider’s stock worth $373,412,000 after acquiring an additional 299,573 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Axis Capital by 31.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 979,944 shares of the insurance provider’s stock worth $99,376,000 after acquiring an additional 234,353 shares during the last quarter. Swedbank AB increased its holdings in Axis Capital by 14.0% in the 1st quarter. Swedbank AB now owns 1,362,091 shares of the insurance provider’s stock worth $138,130,000 after acquiring an additional 167,337 shares during the last quarter. Quantinno Capital Management LP raised its stake in Axis Capital by 64.0% in the 1st quarter. Quantinno Capital Management LP now owns 318,539 shares of the insurance provider’s stock valued at $32,303,000 after acquiring an additional 124,317 shares during the period. Finally, Bank of Nova Scotia raised its stake in Axis Capital by 65.5% in the 1st quarter. Bank of Nova Scotia now owns 183,169 shares of the insurance provider’s stock valued at $18,575,000 after acquiring an additional 72,465 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Axis Capital in a report on Wednesday, July 29th. Keefe, Bruyette & Woods dropped their price target on Axis Capital from $131.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Atlantic Securities set a $122.00 price objective on Axis Capital in a research report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on Axis Capital from $112.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TD Cowen restated a “buy” rating and issued a $130.00 price objective on shares of Axis Capital in a research note on Tuesday, August 25th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Axis Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Axis Capital Company Profile

Axis Capital Holdings Limited (NYSE: AXS) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.

AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.