Levin Capital Strategies L.P. lowered its stake in Axis Capital Holdings Limited (NYSE:AXS – Free Report) by 30.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 173,739 shares of the insurance provider’s stock after selling 75,909 shares during the period. Axis Capital makes up 1.3% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 20th biggest position. Levin Capital Strategies L.P.’s holdings in Axis Capital were worth $17,619,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AXS. Massachusetts Financial Services Co. MA boosted its holdings in shares of Axis Capital by 27.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 439,989 shares of the insurance provider’s stock valued at $47,118,000 after acquiring an additional 95,207 shares in the last quarter. M&T Bank Corp acquired a new position in Axis Capital in the 4th quarter worth about $2,192,000. CWM LLC increased its holdings in Axis Capital by 37.0% in the 4th quarter. CWM LLC now owns 92,101 shares of the insurance provider’s stock worth $9,863,000 after purchasing an additional 24,884 shares in the last quarter. SG Americas Securities LLC raised its position in Axis Capital by 212.1% in the fourth quarter. SG Americas Securities LLC now owns 18,944 shares of the insurance provider’s stock valued at $2,029,000 after purchasing an additional 12,874 shares during the last quarter. Finally, Danske Bank A S raised its position in Axis Capital by 34.1% in the fourth quarter. Danske Bank A S now owns 125,162 shares of the insurance provider’s stock valued at $13,404,000 after purchasing an additional 31,830 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.
Insiders Place Their Bets
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 transaction of $250,869.98. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Research Report on Axis Capital
Axis Capital Stock Down 0.7%
Shares of AXS opened at $113.77 on Thursday. The stock’s 50-day moving average price is $104.50 and its two-hundred day moving average price is $102.78. Axis Capital Holdings Limited has a 12 month low of $88.07 and a 12 month high of $116.63. The company has a market capitalization of $8.39 billion, a PE ratio of 8.48, a PEG ratio of 3.34 and a beta of 0.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25.
Axis Capital (NYSE:AXS – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $3.17 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Axis Capital Holdings Limited will post 13.23 EPS for the current year.
Axis Capital Dividend Announcement
The company also recently announced 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 is currently 13.11%.
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.
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