Axis Capital Holdings Limited $AXS Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXSFree Report) by 1,102.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,575 shares of the insurance provider’s stock after purchasing an additional 60,121 shares during the quarter. Hsbc Holdings PLC’s holdings in Axis Capital were worth $6,636,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC raised its holdings in Axis Capital by 5.0% during the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 100 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Axis Capital by 2.3% in the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock valued at $492,000 after buying an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Axis Capital by 2.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock valued at $577,000 after buying an additional 107 shares during the last quarter. Stifel Financial Corp grew its position in shares of Axis Capital by 0.3% in the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock valued at $3,975,000 after buying an additional 122 shares during the last quarter. Finally, Evoke Wealth LLC raised its stake in Axis Capital by 6.0% during the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 161 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of Axis Capital stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Axis Capital Trading Up 0.8%

Shares of Axis Capital stock opened at $114.59 on Friday. 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 company has a market capitalization of $8.45 billion, a P/E ratio of 8.54, a PEG ratio of 3.32 and a beta of 0.49. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $116.63. The company’s fifty day moving average is $104.84 and its two-hundred day moving average is $102.85.

Axis Capital (NYSE:AXSGet Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $3.17 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Axis Capital Holdings Limited will post 13.23 earnings per share for the current year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is presently 13.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Atlantic Securities set a $122.00 price objective on shares of Axis Capital in a research note on Wednesday, July 15th. Wells Fargo & Company lifted their target price on Axis Capital from $119.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Mizuho boosted their target price on Axis Capital from $137.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. UBS Group upped their target price on Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Bank of America dropped their price target on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.45.

Get Our Latest Research Report on Axis Capital

About Axis Capital

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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