Entropy Technologies LP Acquires 12,896 Shares of Axis Capital Holdings Limited $AXS

Entropy Technologies LP increased its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 31.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,905 shares of the insurance provider’s stock after acquiring an additional 12,896 shares during the quarter. Entropy Technologies LP’s holdings in Axis Capital were worth $5,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Axis Capital during the 4th quarter valued at $30,000. Assetmark Inc. lifted its position in shares of Axis Capital by 80.8% in the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 177 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Axis Capital in the 1st quarter worth about $43,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Axis Capital during the 4th quarter valued at about $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Axis Capital during the 4th quarter valued at about $51,000. Institutional investors own 93.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AXS. Wells Fargo & Company increased their price target on shares of Axis Capital from $119.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Atlantic Securities set a $122.00 price objective on Axis Capital in a research report on Wednesday, July 15th. Weiss Ratings upgraded Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on Axis Capital from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Finally, Mizuho raised their target price on Axis Capital from $137.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Axis Capital has a consensus rating of “Moderate Buy” and a consensus price target of $124.45.

Insider Activity

In other news, Director Henry B. Smith sold 2,542 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the sale, the director directly owned 46,347 shares of the company’s stock, valued at $4,573,985.43. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Axis Capital Stock Up 1.6%

Shares of Axis Capital stock opened at $116.45 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average of $105.19 and a 200 day moving average of $102.95. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 3.40 and a beta of 0.49. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $116.95.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. Axis Capital’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.17 earnings per share. As a group, sell-side analysts anticipate that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is presently 13.11%.

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.