2,816 Shares in Axis Capital Holdings Limited $AXS Acquired by Innealta Capital LLC

Innealta Capital LLC purchased a new position in Axis Capital Holdings Limited (NYSE:AXS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,816 shares of the insurance provider’s stock, valued at approximately $292,000.

A number of other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Axis Capital by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 314,372 shares of the insurance provider’s stock valued at $31,513,000 after purchasing an additional 8,443 shares during the period. M&T Bank Corp purchased a new position in Axis Capital in the 1st quarter valued at about $271,000. Nisa Investment Advisors LLC grew its stake in shares of Axis Capital by 153.7% during the first quarter. Nisa Investment Advisors LLC now owns 25,419 shares of the insurance provider’s stock valued at $2,552,000 after acquiring an additional 15,399 shares in the last quarter. Cerity Partners LLC increased its position in shares of Axis Capital by 62.3% during the first quarter. Cerity Partners LLC now owns 50,582 shares of the insurance provider’s stock worth $5,070,000 after acquiring an additional 19,424 shares during the last quarter. Finally, Croban purchased a new stake in shares of Axis Capital during the first quarter worth about $1,036,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Stock Up 0.8%

NYSE:AXS opened at $97.60 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $95.33 and a 200-day moving average of $97.81. The firm has a market capitalization of $7.52 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.73. Axis Capital Holdings Limited has a 52 week low of $82.17 and a 52 week high of $107.19.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. The business had revenue of $184.90 million during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a return on equity of 19.25% and a net margin of 16.08%.During the same quarter in the previous year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Axis Capital’s dividend payout ratio (DPR) is 14.55%.

Insider Activity

In other Axis Capital news, Director Henry B. Smith sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of the transaction, the director owned 47,295 shares in the company, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Draper sold 4,305 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the sale, the insider owned 16,269 shares in the company, valued at $1,587,366.33. The trade was a 20.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,205 shares of company stock worth $1,188,048. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of Axis Capital in a research note on Wednesday, October 8th. UBS Group upped their price target on shares of Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Axis Capital from $125.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of Axis Capital in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 target price for the company. Finally, Wells Fargo & Company set a $123.00 target price on shares of Axis Capital and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Axis Capital Profile

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.