Prana Capital Management LP acquired a new stake in Axis Capital Holdings Limited (NYSE:AXS) during the 4th quarter, HoldingsChannel reports. The fund acquired 175,274 shares of the insurance provider’s stock, valued at approximately $9,051,000. Axis Capital accounts for 1.9% of Prana Capital Management LP’s portfolio, making the stock its 19th largest holding.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Axis Capital by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,275,658 shares of the insurance provider’s stock worth $419,878,000 after acquiring an additional 91,402 shares during the period. Vanguard Group Inc increased its holdings in Axis Capital by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 7,275,658 shares of the insurance provider’s stock valued at $419,878,000 after buying an additional 91,402 shares during the period. Pzena Investment Management LLC increased its holdings in Axis Capital by 4.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,851,545 shares of the insurance provider’s stock valued at $395,403,000 after buying an additional 281,614 shares during the period. BlackRock Inc. increased its holdings in Axis Capital by 1.0% in the 3rd quarter. BlackRock Inc. now owns 5,711,070 shares of the insurance provider’s stock valued at $329,587,000 after buying an additional 59,046 shares during the period. Finally, LSV Asset Management increased its holdings in Axis Capital by 1.9% in the 4th quarter. LSV Asset Management now owns 2,077,590 shares of the insurance provider’s stock valued at $107,286,000 after buying an additional 38,100 shares during the period. 89.94% of the stock is currently owned by institutional investors.
Shares of AXS traded down $0.19 during mid-day trading on Monday, reaching $57.17. The company had a trading volume of 5,157 shares, compared to its average volume of 577,602. Axis Capital Holdings Limited has a 1-year low of $48.27 and a 1-year high of $60.69. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.80 billion, a P/E ratio of 29.88, a PEG ratio of 1.28 and a beta of 0.43.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. Axis Capital’s payout ratio is currently 83.33%.
Several equities analysts have commented on the stock. ValuEngine lowered shares of Axis Capital from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Wells Fargo & Co reissued a “hold” rating on shares of Axis Capital in a report on Tuesday, January 8th. Zacks Investment Research lowered shares of Axis Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, January 31st. Keefe, Bruyette & Woods raised shares of Axis Capital from a “market perform” rating to an “outperform” rating and raised their target price for the company from $61.00 to $67.00 in a report on Wednesday, March 13th. Finally, TheStreet lowered shares of Axis Capital from a “b-” rating to a “c” rating in a report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.33.
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About Axis Capital
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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