Russell Investments Group Ltd. Grows Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Russell Investments Group Ltd. raised its position in shares of AXIS Capital Holdings Limited (NYSE:AXSFree Report) by 1.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,792 shares of the insurance provider’s stock after purchasing an additional 5,333 shares during the period. Russell Investments Group Ltd.’s holdings in AXIS Capital were worth $23,674,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXS. Norges Bank purchased a new stake in AXIS Capital during the fourth quarter valued at about $48,577,000. Alliancebernstein L.P. increased its holdings in shares of AXIS Capital by 1,531.0% in the third quarter. Alliancebernstein L.P. now owns 631,926 shares of the insurance provider’s stock worth $31,059,000 after buying an additional 593,181 shares during the period. Vanguard Group Inc. increased its holdings in shares of AXIS Capital by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,948,453 shares of the insurance provider’s stock worth $480,644,000 after buying an additional 288,068 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of AXIS Capital by 41.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 888,853 shares of the insurance provider’s stock worth $53,749,000 after buying an additional 260,639 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of AXIS Capital by 763.3% in the first quarter. Cubist Systematic Strategies LLC now owns 286,102 shares of the insurance provider’s stock worth $15,598,000 after buying an additional 252,961 shares during the period. Hedge funds and other institutional investors own 89.61% of the company’s stock.

AXIS Capital Stock Performance

AXIS Capital stock opened at $54.31 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50 day simple moving average is $56.15 and its two-hundred day simple moving average is $55.01. AXIS Capital Holdings Limited has a fifty-two week low of $51.25 and a fifty-two week high of $63.99. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.29 and a beta of 0.82.

AXIS Capital (NYSE:AXSGet Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.48. AXIS Capital had a return on equity of 18.10% and a net margin of 10.11%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.03 EPS. As a group, analysts expect that AXIS Capital Holdings Limited will post 8.45 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Monday, October 2nd were given a $0.44 dividend. The ex-dividend date was Friday, September 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.24%. AXIS Capital’s dividend payout ratio is currently 28.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AXS. Bank of America upgraded AXIS Capital from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $68.00 in a report on Friday, September 15th. Jefferies Financial Group reduced their price target on AXIS Capital from $70.00 to $68.00 in a report on Friday, October 6th. Keefe, Bruyette & Woods upgraded AXIS Capital from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $59.00 to $66.00 in a report on Monday, November 13th. The Goldman Sachs Group assumed coverage on AXIS Capital in a report on Friday, September 8th. They set a “sell” rating and a $51.00 price target on the stock. Finally, StockNews.com assumed coverage on AXIS Capital in a report on Thursday, October 5th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.20.

Read Our Latest Analysis on AXIS Capital

AXIS Capital Profile

(Free Report)

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

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