Counterpoint Mutual Funds LLC Invests $2.32 Million in Axis Capital Holdings Limited $AXS

Counterpoint Mutual Funds LLC purchased a new position in shares of Axis Capital Holdings Limited (NYSE:AXS) during the second quarter, HoldingsChannel reports. The firm purchased 22,329 shares of the insurance provider’s stock, valued at approximately $2,318,000. Axis Capital comprises 0.2% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of Axis Capital by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider’s stock worth $671,000 after acquiring an additional 145 shares during the period. Hancock Whitney Corp increased its stake in shares of Axis Capital by 0.6% during the first quarter. Hancock Whitney Corp now owns 25,065 shares of the insurance provider’s stock worth $2,513,000 after acquiring an additional 145 shares during the period. Cetera Investment Advisers increased its stake in shares of Axis Capital by 2.0% during the first quarter. Cetera Investment Advisers now owns 8,231 shares of the insurance provider’s stock worth $825,000 after acquiring an additional 161 shares during the period. Intrust Bank NA increased its stake in shares of Axis Capital by 2.9% during the first quarter. Intrust Bank NA now owns 6,042 shares of the insurance provider’s stock worth $606,000 after acquiring an additional 170 shares during the period. Finally, Miracle Mile Advisors LLC increased its stake in shares of Axis Capital by 7.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,736 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 197 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Performance

Shares of AXS opened at $95.13 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.39 and a beta of 0.77. The company’s 50 day simple moving average is $96.72 and its 200 day simple moving average is $97.93. Axis Capital Holdings Limited has a 1 year low of $77.21 and a 1 year high of $107.19.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.41. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.68 billion. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 earnings per share. On average, sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.9%. Axis Capital’s dividend payout ratio is presently 16.92%.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Axis Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Wells Fargo & Company upped their target price on shares of Axis Capital from $104.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, UBS Group restated a “buy” rating and set a $119.00 target price (up from $115.00) on shares of Axis Capital in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.43.

Insider Activity at Axis Capital

In other Axis Capital news, insider Daniel J. Draper sold 4,305 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the transaction, the insider owned 16,269 shares of the company’s stock, valued at $1,587,366.33. This trade represents a 20.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the transaction, the director directly owned 47,295 shares in the company, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,205 shares of company stock worth $1,188,048 in the last three months. Insiders own 0.70% of the company’s stock.

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.