Assenagon Asset Management S.A. Cuts Holdings in Axis Capital Holdings Limited (AXS)

Assenagon Asset Management S.A. lessened its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,394 shares of the insurance provider’s stock after selling 2,422 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Axis Capital were worth $3,601,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AXS. Ladenburg Thalmann Financial Services Inc. boosted its position in Axis Capital by 75.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,708 shares of the insurance provider’s stock worth $214,000 after purchasing an additional 1,594 shares during the period. Guggenheim Capital LLC boosted its position in Axis Capital by 150.9% during the first quarter. Guggenheim Capital LLC now owns 56,030 shares of the insurance provider’s stock worth $3,226,000 after purchasing an additional 33,696 shares during the period. Royal Bank of Canada boosted its position in Axis Capital by 88.7% during the first quarter. Royal Bank of Canada now owns 5,832 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 2,741 shares during the period. Clinton Group Inc. bought a new position in Axis Capital during the second quarter worth about $1,488,000. Finally, State of Alaska Department of Revenue boosted its position in Axis Capital by 34.2% during the second quarter. State of Alaska Department of Revenue now owns 8,630 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 2,200 shares during the period. Hedge funds and other institutional investors own 89.32% of the company’s stock.

AXS stock opened at $55.28 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55. Axis Capital Holdings Limited has a 12 month low of $47.43 and a 12 month high of $60.69. The company has a market capitalization of $4.62 billion, a PE ratio of -17.55, a PEG ratio of 1.39 and a beta of 0.37.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.27. Axis Capital had a net margin of 3.91% and a return on equity of 8.02%. The company had revenue of $919.94 million during the quarter, compared to analyst estimates of $987.27 million. During the same period last year, the business earned ($5.35) earnings per share. Axis Capital’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Axis Capital Holdings Limited will post 4.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Tuesday, October 9th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.82%. Axis Capital’s dividend payout ratio (DPR) is currently -49.52%.

AXS has been the subject of a number of research reports. Zacks Investment Research lowered shares of Axis Capital from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Citigroup increased their target price on shares of Axis Capital from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 2nd. TheStreet upgraded shares of Axis Capital from a “c” rating to a “b-” rating in a research report on Thursday, October 25th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $58.00 target price on shares of Axis Capital in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Axis Capital has an average rating of “Hold” and an average target price of $59.71.

Axis Capital Company 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.

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

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