Axis Capital Holdings Limited $AXS Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,590 shares of the insurance provider’s stock after selling 17,589 shares during the quarter. Russell Investments Group Ltd.’s holdings in Axis Capital were worth $14,492,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Smithfield Trust Co increased its stake in Axis Capital by 94.0% in the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Axis Capital in the 2nd quarter valued at approximately $37,000. Allworth Financial LP increased its holdings in shares of Axis Capital by 145.1% in the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 344 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Axis Capital by 21.6% during the second quarter. SBI Securities Co. Ltd. now owns 658 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 117 shares during the period. Finally, Parallel Advisors LLC increased its stake in Axis Capital by 34.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider’s stock valued at $106,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Performance

NYSE AXS opened at $102.21 on Tuesday. The business has a 50 day moving average price of $96.61 and a 200 day moving average price of $98.17. The company has a market capitalization of $7.87 billion, a P/E ratio of 8.45, a PEG ratio of 1.06 and a beta of 0.73. Axis Capital Holdings Limited has a 1-year low of $83.90 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 results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.53. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a return on equity of 19.25% and a net margin of 16.08%.The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. Sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th were given a $0.44 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. Axis Capital’s dividend payout ratio is currently 14.55%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AXS. Weiss Ratings restated a “buy (b)” rating on shares of Axis Capital in a research report on Tuesday, November 25th. Compass Point set a $121.00 price target on shares of Axis Capital in a report on Monday, November 24th. The Goldman Sachs Group assumed coverage on Axis Capital in a research report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 target price on the stock. Royal Bank Of Canada started coverage on Axis Capital in a research note on Monday, November 24th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price target on Axis Capital from $119.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.75.

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.