AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 10.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,752 shares of the insurance provider’s stock after selling 916 shares during the quarter. Pitcairn Co.’s holdings in AXIS Capital were worth $617,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 165 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the period. Blue Trust Inc. grew its stake in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after buying an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in AXIS Capital in the third quarter worth $99,000. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Stock Up 2.8 %

Shares of AXS stock opened at $91.23 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $7.63 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.30 and a beta of 0.90. The business’s fifty day moving average is $81.47 and its 200-day moving average is $75.91. AXIS Capital Holdings Limited has a 1 year low of $53.49 and a 1 year high of $91.43.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the business earned $2.34 earnings per share. Equities analysts expect that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group upped their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Bank of America boosted their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.86.

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.