Royce & Associates LP grew its holdings in AXIS Capital Holdings Limited (NYSE:AXS – Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 439,243 shares of the insurance provider’s stock after purchasing an additional 12,912 shares during the period. Royce & Associates LP owned about 0.52% of AXIS Capital worth $23,948,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of AXIS Capital by 447.2% in the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock valued at $30,000 after buying an additional 398 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of AXIS Capital in the first quarter valued at $27,000. Lazard Asset Management LLC bought a new position in shares of AXIS Capital in the first quarter valued at $33,000. Horizon Bancorp Inc. IN bought a new position in shares of AXIS Capital in the fourth quarter valued at $33,000. Finally, Gyon Technologies Capital Management LP bought a new position in shares of AXIS Capital in the fourth quarter valued at $51,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AXS has been the subject of several analyst reports. Roth Capital reissued a “buy” rating on shares of AXIS Capital in a research note on Thursday, April 27th. Keefe, Bruyette & Woods lifted their price objective on shares of AXIS Capital from $59.00 to $61.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on shares of AXIS Capital in a research report on Thursday, May 18th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.25.
View Our Latest Stock Report on AXS
Insider Activity
In other news, Director Henry B. Smith sold 6,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $55.50, for a total value of $333,000.00. Following the completion of the sale, the director now owns 49,710 shares of the company’s stock, valued at $2,758,905. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.
AXIS Capital Trading Down 1.0 %
Shares of AXIS Capital stock opened at $55.15 on Wednesday. The firm has a 50-day moving average of $54.33 and a 200-day moving average of $55.83. The stock has a market cap of $4.70 billion, a PE ratio of 13.93, a PEG ratio of 1.36 and a beta of 0.84. AXIS Capital Holdings Limited has a 52-week low of $48.32 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59.
AXIS Capital (NYSE:AXS – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.46. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.39 billion. AXIS Capital had a net margin of 6.85% and a return on equity of 14.09%. AXIS Capital’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 earnings per share. As a group, sell-side analysts forecast that AXIS Capital Holdings Limited will post 8.22 EPS for the current year.
AXIS Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine classes covering offshore energy, cargo, liability, kidnap and ransom, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
Further Reading
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