Los Angeles Capital Management LLC Decreases Holdings in Axis Capital Holdings Limited $AXS

Los Angeles Capital Management LLC lowered its position in Axis Capital Holdings Limited (NYSE:AXS) by 15.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 111,568 shares of the insurance provider’s stock after selling 21,159 shares during the period. Los Angeles Capital Management LLC’s holdings in Axis Capital were worth $11,583,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Woodline Partners LP boosted its stake in shares of Axis Capital by 68.7% during the first quarter. Woodline Partners LP now owns 370,054 shares of the insurance provider’s stock valued at $37,094,000 after purchasing an additional 150,652 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 valued at $30,649,000 after buying an additional 20,159 shares during the period. Kera Capital Partners Inc. bought a new stake in Axis Capital in the 2nd quarter worth $321,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Axis Capital in the first quarter valued at about $620,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Axis Capital by 9.7% during the second quarter. Public Employees Retirement System of Ohio now owns 31,755 shares of the insurance provider’s stock valued at $3,297,000 after acquiring an additional 2,820 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AXS. Weiss Ratings reissued a “buy (b+)” rating on shares of Axis Capital in a research note on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on Axis Capital in a report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price objective for the company. UBS Group lifted their price objective on Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wells Fargo & Company set a $123.00 target price on Axis Capital and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Axis Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Axis Capital currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Insider Buying and Selling

In other news, Director Henry B. Smith sold 3,500 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total value of $345,345.00. Following the sale, the director directly owned 47,295 shares of the company’s stock, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Draper sold 4,305 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the transaction, the insider owned 16,269 shares of the company’s stock, valued at $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,205 shares of company stock valued at $1,188,048. 0.70% of the stock is owned by corporate insiders.

Axis Capital Stock Up 2.0%

Shares of Axis Capital stock opened at $99.51 on Monday. Axis Capital Holdings Limited has a 1 year low of $82.92 and a 1 year high of $107.19. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.06 and a beta of 0.73. The company has a 50-day moving average of $95.35 and a 200 day moving average of $97.90. 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 announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The business had revenue of $184.90 million for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were paid a $0.44 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.8%. Axis Capital’s dividend payout ratio is presently 14.55%.

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.