Riverhead Capital Management LLC trimmed its holdings in AXIS Capital (NYSE:AXS) by 47.6% in the first quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the insurance provider’s stock after selling 11,450 shares during the quarter. Riverhead Capital Management LLC’s holdings in AXIS Capital were worth $725,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Commerce Bank bought a new position in shares of AXIS Capital in the first quarter valued at about $201,000. Neuberger Berman Group LLC bought a new position in shares of AXIS Capital in the first quarter valued at about $213,000. Levin Capital Strategies L.P. bought a new position in shares of AXIS Capital in the fourth quarter valued at about $226,000. Toronto Dominion Bank raised its holdings in shares of AXIS Capital by 37.2% in the fourth 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 last quarter. Finally, American International Group Inc. raised its holdings in shares of AXIS Capital by 51.7% in the fourth 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 last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.
AXS has been the subject of a number of research analyst reports. Wells Fargo & Co reaffirmed a “hold” rating and issued a $52.00 price target on shares of AXIS Capital in a report on Monday, April 2nd. Deutsche Bank cut their price target on AXIS Capital from $55.00 to $54.00 and set a “hold” rating for the company in a report on Friday, February 9th. Citigroup lifted their price target on AXIS Capital from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, April 10th. ValuEngine raised AXIS Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 17th. Finally, Morgan Stanley lifted their price target on AXIS Capital from $61.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $60.89.
In other news, Director Charles A. Davis acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $49.90 per share, for a total transaction of $1,247,500.00. Following the completion of the transaction, the director now directly owns 34,063 shares in the company, valued at $1,699,743.70. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.
Shares of AXS stock opened at $57.83 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $4.88 billion, a P/E ratio of -18.36, a PEG ratio of 1.52 and a beta of 0.33. AXIS Capital has a 12 month low of $47.43 and a 12 month high of $66.52.
AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, April 25th. The insurance provider reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.25. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.31 billion. AXIS Capital had a negative return on equity of 3.42% and a negative net margin of 6.52%. equities analysts anticipate that AXIS Capital will post 4.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a $0.39 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.56 dividend on an annualized basis and a yield of 2.70%. AXIS Capital’s payout ratio is -49.52%.
About AXIS Capital
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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