Commerce Bank acquired a new stake in AXIS Capital (NYSE:AXS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,483 shares of the insurance provider’s stock, valued at approximately $201,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Paloma Partners Management Co boosted its stake in shares of AXIS Capital by 7.1% in the 4th quarter. Paloma Partners Management Co now owns 19,704 shares of the insurance provider’s stock valued at $990,000 after buying an additional 1,312 shares during the period. Toronto Dominion Bank boosted its stake in shares of AXIS Capital by 37.2% in the 4th quarter. Toronto Dominion Bank now owns 4,900 shares of the insurance provider’s stock valued at $246,000 after buying an additional 1,328 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of AXIS Capital by 40.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the insurance provider’s stock valued at $281,000 after buying an additional 1,600 shares during the period. American International Group Inc. boosted its stake in shares of AXIS Capital by 51.7% in the 4th quarter. American International Group Inc. now owns 5,117 shares of the insurance provider’s stock valued at $257,000 after buying an additional 1,743 shares during the period. Finally, Twin Capital Management Inc. boosted its stake in shares of AXIS Capital by 6.0% in the 4th quarter. Twin Capital Management Inc. now owns 41,907 shares of the insurance provider’s stock valued at $2,106,000 after buying an additional 2,354 shares during the period. Institutional investors and hedge funds own 87.59% of the company’s stock.
Shares of AXIS Capital opened at $57.50 on Monday, according to MarketBeat. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.30. AXIS Capital has a fifty-two week low of $47.43 and a fifty-two week high of $66.52. The stock has a market cap of $4.79 billion, a PE ratio of -18.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.33.
AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, April 25th. The insurance provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.25. AXIS Capital had a negative return on equity of 3.36% and a negative net margin of 6.52%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.31 billion. equities analysts forecast that AXIS Capital will post 4.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, June 28th. AXIS Capital’s dividend payout ratio (DPR) is presently -49.52%.
In other AXIS Capital news, Director Charles A. Davis bought 25,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $49.90 per share, with a total value of $1,247,500.00. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at $1,699,743.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on AXS shares. Wells Fargo set a $52.00 price objective on AXIS Capital and gave the company a “hold” rating in a research note on Wednesday, January 17th. Deutsche Bank decreased their price objective on AXIS Capital from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Citigroup lifted their price objective on AXIS Capital from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, April 10th. ValuEngine upgraded AXIS Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 17th. Finally, Zacks Investment Research upgraded AXIS Capital from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $60.89.
AXIS Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.
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