Fox Run Management L.L.C. raised its holdings in Axis Capital Holdings Limited (NYSE:AXS – Free Report) by 280.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,441 shares of the insurance provider’s stock after acquiring an additional 7,700 shares during the period. Fox Run Management L.L.C.’s holdings in Axis Capital were worth $1,118,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in Axis Capital by 83.3% in the 4th quarter. Cerity Partners LLC now owns 108,533 shares of the insurance provider’s stock valued at $11,623,000 after acquiring an additional 49,321 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Axis Capital by 70.5% during the 4th quarter. LPL Financial LLC now owns 96,034 shares of the insurance provider’s stock worth $10,284,000 after buying an additional 39,709 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Axis Capital by 19.9% during the 4th quarter. Franklin Resources Inc. now owns 315,363 shares of the insurance provider’s stock worth $33,772,000 after buying an additional 52,442 shares during the last quarter. Brandywine Global Investment Management LLC increased its holdings in shares of Axis Capital by 21.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 102,373 shares of the insurance provider’s stock worth $10,963,000 after buying an additional 17,805 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Axis Capital by 23.6% during the 4th quarter. JPMorgan Chase & Co. now owns 179,164 shares of the insurance provider’s stock worth $19,187,000 after buying an additional 34,260 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.
Axis Capital Stock Performance
NYSE:AXS opened at $97.66 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $7.20 billion, a P/E ratio of 7.28, a PEG ratio of 2.94 and a beta of 0.51. The company has a 50 day moving average price of $99.34 and a 200 day moving average price of $101.79. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34.
Axis Capital Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is currently 13.11%.
Insider Buying and Selling
In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Keefe, Bruyette & Woods cut their price target on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Weiss Ratings downgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Wells Fargo & Company cut their price target on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Finally, Mizuho set a $137.00 price target on shares of Axis Capital in a report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Axis Capital currently has an average rating of “Moderate Buy” and an average price target of $122.10.
Check Out Our Latest Stock Analysis on AXS
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.
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