State Street Corp Has $190.86 Million Holdings in Axis Capital Holdings Limited (AXS)

State Street Corp reduced its position in Axis Capital Holdings Limited (NYSE:AXS) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,951,814 shares of the insurance provider’s stock after selling 141,378 shares during the period. State Street Corp owned approximately 3.55% of Axis Capital Holdings Limited worth $190,862,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Karp Capital Management Corp acquired a new stake in shares of Axis Capital Holdings Limited in the 1st quarter valued at about $295,000. Ameriprise Financial Inc. raised its stake in shares of Axis Capital Holdings Limited by 19.5% in the 1st quarter. Ameriprise Financial Inc. now owns 27,329 shares of the insurance provider’s stock valued at $1,834,000 after purchasing an additional 4,451 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Axis Capital Holdings Limited in the 1st quarter valued at about $462,000. SG Americas Securities LLC raised its stake in shares of Axis Capital Holdings Limited by 25.1% in the 1st quarter. SG Americas Securities LLC now owns 8,382 shares of the insurance provider’s stock valued at $562,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Axis Capital Holdings Limited by 56.4% in the 1st quarter. Principal Financial Group Inc. now owns 18,773 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 6,767 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Axis Capital Holdings Limited (AXS) traded down 0.77% on Friday, hitting $54.37. 59,572 shares of the stock traded hands. Axis Capital Holdings Limited has a 12-month low of $52.15 and a 12-month high of $71.06. The stock has a market cap of $4.52 billion, a P/E ratio of 12.00 and a beta of 0.59. The stock has a 50-day moving average price of $56.88 and a 200 day moving average price of $62.48.

Axis Capital Holdings Limited (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.34) by ($0.01). Axis Capital Holdings Limited had a negative net margin of 4.55% and a negative return on equity of 2.54%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $972.10 million. During the same period in the previous year, the business posted $1.78 EPS. On average, equities analysts expect that Axis Capital Holdings Limited will post ($2.24) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 9th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.52 annualized dividend and a yield of 2.77%. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is presently -49.67%.

Several equities research analysts recently weighed in on the stock. UBS AG dropped their price objective on shares of Axis Capital Holdings Limited from $57.00 to $55.00 and set a “sell” rating on the stock in a research note on Monday, October 2nd. MKM Partners dropped their price objective on shares of Axis Capital Holdings Limited from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Citigroup Inc. dropped their price objective on shares of Axis Capital Holdings Limited from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Wells Fargo & Company reiterated a “sell” rating on shares of Axis Capital Holdings Limited in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Axis Capital Holdings Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Seven equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.27.

TRADEMARK VIOLATION WARNING: This story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2017/10/27/state-street-corp-cuts-stake-in-axis-capital-holdings-limited-axs.html.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Institutional Ownership by Quarter for Axis Capital Holdings Limited (NYSE:AXS)

Receive News & Ratings for Axis Capital Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply