APG Asset Management N.V. bought a new position in shares of Axis Capital Holdings Limited (NYSE:AXS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,900 shares of the insurance provider’s stock, valued at approximately $1,995,000.
A number of other large investors also recently added to or reduced their stakes in AXS. Norges Bank acquired a new position in shares of Axis Capital in the 4th quarter valued at $52,893,000. Samlyn Capital LLC boosted its position in Axis Capital by 49.3% in the fourth quarter. Samlyn Capital LLC now owns 1,454,039 shares of the insurance provider’s stock valued at $86,428,000 after buying an additional 480,240 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in Axis Capital by 36.6% in the 1st quarter. Ceredex Value Advisors LLC now owns 1,205,900 shares of the insurance provider’s stock worth $47,103,000 after buying an additional 322,950 shares during the period. Wedge Capital Management L L P NC raised its position in Axis Capital by 35.2% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,060,367 shares of the insurance provider’s stock worth $40,983,000 after buying an additional 276,280 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its stake in Axis Capital by 199.1% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 370,870 shares of the insurance provider’s stock valued at $22,045,000 after acquiring an additional 246,872 shares during the period. 91.03% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Axis Capital from a “hold” rating to a “strong sell” rating and set a $36.00 price objective on the stock. in a research note on Monday, May 18th. Deutsche Bank decreased their price target on Axis Capital from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 28th. Morgan Stanley lowered their price target on shares of Axis Capital from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. UBS Group dropped their target price on Axis Capital from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, ValuEngine upgraded Axis Capital from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.14.
Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Axis Capital had a net margin of 0.73% and a negative return on equity of 0.38%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. On average, research analysts predict that Axis Capital Holdings Limited will post 0.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 29th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Friday, June 26th. Axis Capital’s dividend payout ratio (DPR) is 65.08%.
In related news, Director Anne Melissa Dowling bought 1,400 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $35.77 per share, with a total value of $50,078.00. Following the purchase, the director now directly owns 3,323 shares of the company’s stock, valued at $118,863.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles A. Davis purchased 200,000 shares of the stock in a transaction dated Friday, June 19th. The shares were purchased at an average cost of $43.23 per share, for a total transaction of $8,646,000.00. Following the transaction, the director now owns 42,120 shares in the company, valued at approximately $1,820,847.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,149,107 shares of company stock worth $47,442,566. Insiders own 2.20% of the company’s stock.
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 products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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