BlackRock Inc. Sells 150,875 Shares of Axis Capital Holdings Limited (AXS)

BlackRock Inc. reduced its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,652,024 shares of the insurance provider’s stock after selling 150,875 shares during the period. BlackRock Inc. owned 0.07% of Axis Capital worth $314,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AXS. M&T Bank Corp increased its position in shares of Axis Capital by 26.6% in the 1st quarter. M&T Bank Corp now owns 5,215 shares of the insurance provider’s stock valued at $300,000 after purchasing an additional 1,097 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Axis Capital by 75.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,708 shares of the insurance provider’s stock valued at $214,000 after purchasing an additional 1,594 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Axis Capital by 23.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 8,605 shares of the insurance provider’s stock valued at $495,000 after purchasing an additional 1,621 shares during the last quarter. Levin Capital Strategies L.P. increased its position in shares of Axis Capital by 39.2% in the 1st quarter. Levin Capital Strategies L.P. now owns 6,247 shares of the insurance provider’s stock valued at $360,000 after purchasing an additional 1,760 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Axis Capital by 0.5% in the 1st quarter. California Public Employees Retirement System now owns 387,167 shares of the insurance provider’s stock valued at $22,289,000 after purchasing an additional 1,985 shares during the last quarter. 89.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Axis Capital stock opened at $57.26 on Friday. Axis Capital Holdings Limited has a 12-month low of $47.43 and a 12-month high of $60.69. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.65 billion, a PE ratio of -18.18, a P/E/G ratio of 1.37 and a beta of 0.42.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, July 25th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. Axis Capital had a negative net margin of 6.16% and a negative return on equity of 3.63%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. research analysts expect that Axis Capital Holdings Limited will post 4.77 earnings per share for the current year.

A number of brokerages have commented on AXS. Zacks Investment Research raised shares of Axis Capital from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, July 17th. Wells Fargo & Co reissued a “hold” rating and issued a $56.00 price objective on shares of Axis Capital in a research report on Thursday, May 24th. Goldman Sachs Group began coverage on shares of Axis Capital in a research report on Monday, June 18th. They issued a “neutral” rating and a $60.00 price objective on the stock. Citigroup increased their price objective on shares of Axis Capital from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Finally, TheStreet downgraded shares of Axis Capital from a “b-” rating to a “c” rating in a research report on Thursday, June 21st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.56.

Axis Capital Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

Further Reading: Diversification in Your Portfolio

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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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