Clear Harbor Asset Management LLC Has $4.55 Million Position in AXIS Capital Holdings Limited (NYSE:AXS)

Clear Harbor Asset Management LLC increased its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 107.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,191 shares of the insurance provider’s stock after purchasing an additional 42,569 shares during the quarter. Clear Harbor Asset Management LLC owned approximately 0.10% of AXIS Capital worth $4,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of AXIS Capital during the fourth quarter worth $1,113,000. Raymond James Trust N.A. increased its holdings in AXIS Capital by 2.9% in the 4th quarter. Raymond James Trust N.A. now owns 8,688 shares of the insurance provider’s stock worth $481,000 after purchasing an additional 246 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in AXIS Capital in the fourth quarter valued at about $43,000. Vanguard Group Inc. boosted its stake in shares of AXIS Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after purchasing an additional 207,233 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of AXIS Capital during the third quarter worth about $51,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Performance

AXS stock traded up $0.03 during midday trading on Thursday, hitting $65.02. The company’s stock had a trading volume of 811,582 shares, compared to its average volume of 632,019. AXIS Capital Holdings Limited has a 1 year low of $51.61 and a 1 year high of $65.32. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.26 and a beta of 0.79. The stock’s 50-day moving average price is $60.95 and its 200 day moving average price is $57.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.25) by $4.19. AXIS Capital had a net margin of 6.67% and a return on equity of 19.25%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. On average, equities analysts forecast that AXIS Capital Holdings Limited will post 10.15 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Monday, March 4th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.76 annualized dividend and a dividend yield of 2.71%. AXIS Capital’s payout ratio is currently 43.78%.

Wall Street Analyst Weigh In

AXS has been the topic of a number of research reports. UBS Group boosted their target price on shares of AXIS Capital from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company upped their price target on AXIS Capital from $56.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $66.83.

Insider Buying and Selling

In other news, Director Stanley A. Galanski acquired 7,000 shares of AXIS Capital stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $58.45 per share, with a total value of $409,150.00. Following the completion of the acquisition, the director now owns 9,763 shares in the company, valued at $570,647.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.