Pzena Investment Management LLC grew its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,628,962 shares of the insurance provider’s stock after acquiring an additional 52,813 shares during the quarter. Pzena Investment Management LLC owned 0.06% of Axis Capital worth $232,652,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in shares of Axis Capital by 12.9% during the 4th quarter. Suntrust Banks Inc. now owns 44,250 shares of the insurance provider’s stock worth $2,223,000 after purchasing an additional 5,050 shares in the last quarter. American International Group Inc. raised its stake in shares of Axis Capital by 51.7% during the 4th quarter. American International Group Inc. now owns 5,117 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 1,743 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Axis Capital by 13.0% during the 4th quarter. Schroder Investment Management Group now owns 74,798 shares of the insurance provider’s stock worth $3,760,000 after purchasing an additional 8,598 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Axis Capital during the 4th quarter worth approximately $782,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Axis Capital during the 4th quarter worth approximately $226,000. 85.33% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Conrad D. Brooks sold 7,500 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $52.31, for a total value of $392,325.00. Following the sale, 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 hyperlink. 1.89% of the stock is currently owned by corporate insiders.
Shares of Axis Capital Holdings Limited (NYSE:AXS) opened at $50.80 on Wednesday. Axis Capital Holdings Limited has a 12 month low of $47.99 and a 12 month high of $71.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.51 and a quick ratio of 0.51.
Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Axis Capital had a negative net margin of 8.04% and a negative return on equity of 4.39%. The business had revenue of $729.42 million during the quarter, compared to the consensus estimate of $549.41 million. During the same quarter last year, the company posted $1.14 EPS. The firm’s revenue was up 57.1% on a year-over-year basis. sell-side analysts predict that Axis Capital Holdings Limited will post 4.32 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Co set a $54.00 price objective on Axis Capital and gave the stock a “sell” rating in a research note on Thursday, October 26th. TheStreet cut Axis Capital from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. Morgan Stanley dropped their price objective on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Axis Capital from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, ValuEngine upgraded Axis Capital from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $60.22.
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About Axis Capital
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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