CIBC Asset Management Inc cut its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,104 shares of the insurance provider’s stock after selling 1,746 shares during the period. CIBC Asset Management Inc’s holdings in Axis Capital were worth $458,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its stake in Axis Capital by 2.9% during the second quarter. Advisory Services Network LLC now owns 8,111 shares of the insurance provider’s stock valued at $524,000 after purchasing an additional 225 shares during the last quarter. Stifel Financial Corp lifted its stake in Axis Capital by 13.5% during the second quarter. Stifel Financial Corp now owns 7,837 shares of the insurance provider’s stock valued at $507,000 after purchasing an additional 930 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Axis Capital by 5.5% during the third quarter. Oppenheimer & Co. Inc. now owns 23,586 shares of the insurance provider’s stock valued at $1,352,000 after purchasing an additional 1,230 shares during the last quarter. Swiss National Bank lifted its stake in Axis Capital by 0.3% during the third quarter. Swiss National Bank now owns 759,346 shares of the insurance provider’s stock valued at $43,518,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Highstreet Asset Management Inc. lifted its stake in Axis Capital by 12.8% during the third quarter. Highstreet Asset Management Inc. now owns 19,648 shares of the insurance provider’s stock valued at $1,126,000 after purchasing an additional 2,234 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on AXS. Deutsche Bank cut their target price on shares of Axis Capital from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Wells Fargo & Co restated a “hold” rating and issued a $52.00 price target on shares of Axis Capital in a research report on Wednesday, February 7th. UBS Group upgraded shares of Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price target for the company in a research report on Thursday, January 11th. ValuEngine upgraded shares of Axis Capital from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research downgraded shares of Axis Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Axis Capital currently has an average rating of “Hold” and a consensus price target of $60.22.
Shares of Axis Capital Holdings Limited (NYSE AXS) opened at $49.20 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.21. Axis Capital Holdings Limited has a 12-month low of $47.99 and a 12-month high of $71.06.
Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). The firm had revenue of $729.42 million during the quarter, compared to analysts’ expectations of $549.41 million. Axis Capital had a negative net margin of 8.04% and a negative return on equity of 4.39%. The firm’s revenue was up 57.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. sell-side analysts forecast that Axis Capital Holdings Limited will post 4.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, December 28th. This is a positive change from Axis Capital’s previous quarterly dividend of $0.38. Axis Capital’s dividend payout ratio is currently -31.20%.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total value of $392,325.00. Following the transaction, the executive vice president now owns 6,027 shares in the company, valued at approximately $315,272.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.89% of the stock is currently owned by corporate insiders.
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Axis Capital Company Profile
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.
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