NewEdge Advisors LLC Has $710,000 Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

NewEdge Advisors LLC grew its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 210.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,008 shares of the insurance provider’s stock after buying an additional 5,427 shares during the quarter. NewEdge Advisors LLC’s holdings in AXIS Capital were worth $710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in AXIS Capital during the 4th quarter valued at about $88,175,000. Norges Bank purchased a new position in shares of AXIS Capital during the fourth quarter valued at approximately $88,147,000. FIL Ltd bought a new stake in AXIS Capital during the fourth quarter worth $43,893,000. Massachusetts Financial Services Co. MA purchased a new stake in AXIS Capital in the 4th quarter valued at $37,775,000. Finally, Swedbank AB purchased a new stake in AXIS Capital in the 4th quarter valued at $31,118,000. 93.44% of the stock is owned by institutional investors.

AXIS Capital Trading Down 0.8 %

Shares of AXS opened at $94.88 on Friday. AXIS Capital Holdings Limited has a fifty-two week low of $60.85 and a fifty-two week high of $101.42. The business has a 50-day moving average of $94.61 and a 200 day moving average of $90.10. The firm has a market cap of $7.46 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. As a group, research analysts forecast that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 31st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Monday, March 31st. AXIS Capital’s payout ratio is currently 14.25%.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the transaction, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AXS shares. Wells Fargo & Company upped their target price on shares of AXIS Capital from $97.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 10th. Jefferies Financial Group increased their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, April 11th. BMO Capital Markets initiated coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Saturday, April 12th. Finally, Keefe, Bruyette & Woods cut their price objective on AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.75.

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.