Wedge Capital Management L L P NC Sells 28,020 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Wedge Capital Management L L P NC lessened its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 20.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 108,896 shares of the insurance provider’s stock after selling 28,020 shares during the period. Wedge Capital Management L L P NC’s holdings in AXIS Capital were worth $10,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Trail Advisors LLC bought a new stake in AXIS Capital in the 4th quarter valued at $300,000. Elevate Capital Advisors LLC bought a new stake in AXIS Capital in the 4th quarter valued at $1,840,000. JPMorgan Chase & Co. increased its holdings in AXIS Capital by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 133,675 shares of the insurance provider’s stock valued at $11,846,000 after buying an additional 4,303 shares during the period. Barclays PLC increased its holdings in AXIS Capital by 53.6% in the 3rd quarter. Barclays PLC now owns 48,964 shares of the insurance provider’s stock valued at $3,898,000 after buying an additional 17,082 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in AXIS Capital in the 4th quarter valued at $246,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 2.0%

Shares of NYSE AXS opened at $107.07 on Monday. The firm’s 50-day simple moving average is $98.18 and its 200 day simple moving average is $94.08. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 3.96 and a beta of 0.83. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 12-month low of $68.02 and a 12-month high of $107.19.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.53. The business had revenue of $1.52 billion for 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 firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.07 EPS. On average, research analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. AXIS Capital’s payout ratio is presently 17.46%.

Wall Street Analyst Weigh In

AXS has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Jefferies Financial Group boosted their target price on shares of AXIS Capital from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of AXIS Capital from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. UBS Group boosted their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.75.

AXIS Capital Company 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.