Woodline Partners LP Buys New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Woodline Partners LP bought a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, Holdings Channel.com reports. The firm bought 219,402 shares of the insurance provider’s stock, valued at approximately $19,443,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AXS. Raymond James Financial Inc. purchased a new stake in AXIS Capital during the 4th quarter worth $88,175,000. Norges Bank purchased a new stake in AXIS Capital during the 4th quarter worth $88,147,000. FIL Ltd purchased a new stake in AXIS Capital during the 4th quarter worth $43,893,000. Massachusetts Financial Services Co. MA purchased a new stake in AXIS Capital during the 4th quarter worth $37,775,000. Finally, Swedbank AB purchased a new stake in AXIS Capital during the 4th quarter worth $31,118,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Activity

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. The trade was a 47.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

AXIS Capital Price Performance

AXS opened at $100.99 on Thursday. The company has a 50-day moving average of $96.86 and a 200-day moving average of $92.39. The company has a market capitalization of $7.94 billion, a P/E ratio of 8.18, a PEG ratio of 3.96 and a beta of 0.82. AXIS Capital Holdings Limited has a 1-year low of $68.02 and a 1-year high of $103.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.53. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.07 EPS. Equities analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 17.46%.

Analyst Upgrades and Downgrades

AXS has been the topic of several analyst reports. UBS Group lifted their price target on shares of AXIS Capital from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods lifted their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Cowen reaffirmed a “buy” rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AXIS Capital has a consensus rating of “Moderate Buy” and an average price target of $107.75.

AXIS Capital Profile

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.