Pictet Asset Management Ltd. Has $2,295,000 Position in Axis Capital Holdings Limited (AXS)

Pictet Asset Management Ltd. maintained its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 35,000 shares of the insurance provider’s stock at the end of the second quarter. Pictet Asset Management Ltd.’s holdings in Axis Capital Holdings Limited were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Axis Capital Holdings Limited during the first quarter worth approximately $529,000. Wells Fargo & Company MN raised its stake in Axis Capital Holdings Limited by 27.4% in the first quarter. Wells Fargo & Company MN now owns 1,091,883 shares of the insurance provider’s stock valued at $73,189,000 after buying an additional 234,985 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in Axis Capital Holdings Limited by 16.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,245 shares of the insurance provider’s stock valued at $485,000 after buying an additional 1,001 shares during the period. Benedict Financial Advisors Inc. raised its stake in Axis Capital Holdings Limited by 7.7% in the first quarter. Benedict Financial Advisors Inc. now owns 15,662 shares of the insurance provider’s stock valued at $1,050,000 after buying an additional 1,124 shares during the period. Finally, Breton Hill Capital Ltd. purchased a new stake in Axis Capital Holdings Limited during the first quarter valued at about $257,000. 89.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of Axis Capital Holdings Limited (NYSE:AXS) opened at 63.06 on Tuesday. The firm’s 50-day moving average is $64.31 and its 200 day moving average is $65.83. Axis Capital Holdings Limited has a 52-week low of $53.66 and a 52-week high of $71.06. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 13.91 and a beta of 0.60.

Axis Capital Holdings Limited (NYSE:AXS) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The business had revenue of $956.02 million for the quarter, compared to analysts’ expectations of $989.95 million. During the same period in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Axis Capital Holdings Limited will post $4.01 earnings per share for the current year.

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Several research firms have issued reports on AXS. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price target on shares of Axis Capital Holdings Limited in a research report on Friday. Zacks Investment Research lowered shares of Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “sell” rating on shares of Axis Capital Holdings Limited in a research report on Thursday, July 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target (up from $68.00) on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Finally, Citigroup Inc. upped their price target on shares of Axis Capital Holdings Limited from $60.00 to $61.00 and gave the stock a “sell” rating in a research report on Thursday, July 13th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $67.11.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

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

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