Levin Capital Strategies L.P. Decreases Position in Axis Capital Holdings Limited $AXS

Levin Capital Strategies L.P. reduced its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,006 shares of the insurance provider’s stock after selling 6,051 shares during the quarter. Axis Capital comprises about 2.5% of Levin Capital Strategies L.P.’s portfolio, making the stock its 10th biggest position. Levin Capital Strategies L.P. owned 0.32% of Axis Capital worth $25,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Woodline Partners LP boosted its holdings in shares of Axis Capital by 68.7% during the 1st quarter. Woodline Partners LP now owns 370,054 shares of the insurance provider’s stock worth $37,094,000 after buying an additional 150,652 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Axis Capital by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,752 shares of the insurance provider’s stock worth $30,649,000 after buying an additional 20,159 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Axis Capital during the 2nd quarter worth about $321,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Axis Capital during the 1st quarter worth about $620,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Axis Capital by 9.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 31,755 shares of the insurance provider’s stock worth $3,297,000 after buying an additional 2,820 shares during the period. 93.44% of the stock is owned by institutional investors.

Axis Capital Price Performance

AXS stock opened at $94.22 on Tuesday. The company has a 50 day simple moving average of $95.40 and a 200 day simple moving average of $97.81. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 1.06 and a beta of 0.73. Axis Capital Holdings Limited has a 1 year low of $78.64 and a 1 year high of $107.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. The business had revenue of $184.90 million during the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 EPS. Research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, September 30th. Axis Capital’s dividend payout ratio is currently 14.55%.

Insider Buying and Selling

In other Axis Capital news, Director Henry B. Smith sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel J. Draper sold 4,305 shares of the company’s 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 completion of the transaction, the insider owned 16,269 shares of the company’s stock, valued at approximately $1,587,366.33. This trade represents a 20.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,205 shares of company stock valued at $1,188,048. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on AXS shares. The Goldman Sachs Group started coverage on shares of Axis Capital in a report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 target price for the company. UBS Group boosted their price objective on shares of Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Axis Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Axis Capital in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

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.