Johnson Investment Counsel Inc. Has $123.75 Million Holdings in Axis Capital Holdings Limited (NYSE:AXS)

Johnson Investment Counsel Inc. decreased its stake in Axis Capital Holdings Limited (NYSE:AXS) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,234,506 shares of the insurance provider’s stock after selling 77,512 shares during the quarter. Axis Capital makes up about 1.2% of Johnson Investment Counsel Inc.’s investment portfolio, making the stock its 21st largest position. Johnson Investment Counsel Inc. owned 1.57% of Axis Capital worth $123,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in shares of Axis Capital by 6.1% during the first quarter. QRG Capital Management Inc. now owns 8,953 shares of the insurance provider’s stock valued at $897,000 after acquiring an additional 511 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Axis Capital by 2.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider’s stock valued at $671,000 after purchasing an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Axis Capital by 36.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,666 shares of the insurance provider’s stock valued at $3,776,000 after purchasing an additional 10,008 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new position in Axis Capital in the first quarter valued at about $326,000. Finally, SG Americas Securities LLC bought a new stake in Axis Capital during the first quarter worth about $330,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Down 0.2%

Shares of NYSE AXS opened at $101.94 on Thursday. Axis Capital Holdings Limited has a 1 year low of $68.49 and a 1 year high of $107.19. The firm’s 50-day moving average is $99.72 and its 200-day moving average is $94.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $8.02 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.53. Axis Capital had a net margin of 14.54% and a return on equity of 19.01%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm earned $3.07 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital’s dividend payout ratio (DPR) is currently 17.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXS. JMP Securities reissued a “market perform” rating on shares of Axis Capital in a report on Thursday, May 1st. Cowen reissued a “buy” rating on shares of Axis Capital in a research note on Wednesday, May 14th. UBS Group increased their target price on Axis Capital from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Jefferies Financial Group lifted their price target on Axis Capital from $116.00 to $119.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Axis Capital from $114.00 to $118.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.