Allspring Global Investments Holdings LLC reduced its holdings in AXIS Capital Holdings Limited (NYSE:AXS – Free Report) by 5.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,122,176 shares of the insurance provider’s stock after selling 61,209 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AXIS Capital were worth $99,726,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC bought a new position in AXIS Capital in the third quarter worth about $40,000. Versant Capital Management Inc raised its position in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the period. R Squared Ltd bought a new stake in shares of AXIS Capital in the 4th quarter worth approximately $82,000. Blue Trust Inc. boosted its position in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 985 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in AXIS Capital during the 3rd quarter worth $99,000. 93.44% of the stock is owned by institutional investors and hedge funds.
AXIS Capital Trading Down 1.0 %
AXIS Capital stock opened at $89.50 on Thursday. AXIS Capital Holdings Limited has a 12-month low of $59.53 and a 12-month high of $94.89. The stock has a market capitalization of $7.49 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 4.01 and a beta of 0.95. The firm has a 50 day simple moving average of $89.88 and a 200-day simple moving average of $83.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.
AXIS Capital Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.97%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. TD Cowen raised their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. UBS Group boosted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Finally, StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.88.
Insider Buying and Selling at AXIS Capital
In related news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.
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.
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