SVB Wealth LLC Sells 195 Shares of Axis Capital Holdings Limited $AXS

SVB Wealth LLC trimmed its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,737 shares of the insurance provider’s stock after selling 195 shares during the period. SVB Wealth LLC’s holdings in Axis Capital were worth $274,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Axis Capital by 5.3% during the 4th quarter. AQR Capital Management LLC now owns 2,689,510 shares of the insurance provider’s stock valued at $238,344,000 after purchasing an additional 134,157 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Axis Capital by 1.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,042,925 shares of the insurance provider’s stock valued at $181,045,000 after purchasing an additional 20,976 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Axis Capital by 95.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,852,398 shares of the insurance provider’s stock valued at $185,685,000 after purchasing an additional 903,107 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Axis Capital by 0.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,359,471 shares of the insurance provider’s stock valued at $136,273,000 after purchasing an additional 4,793 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Axis Capital by 11.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,107,967 shares of the insurance provider’s stock valued at $98,188,000 after purchasing an additional 114,768 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Daniel J. Draper sold 4,305 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the sale, the insider owned 16,269 shares of the company’s stock, valued at $1,587,366.33. This represents a 20.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 8,705 shares of company stock worth $842,703 over the last three months. Corporate insiders own 0.70% of the company’s stock.

Axis Capital Price Performance

Shares of AXS opened at $99.2150 on Monday. The company has a 50 day moving average price of $98.12 and a 200-day moving average price of $97.29. Axis Capital Holdings Limited has a fifty-two week low of $74.68 and a fifty-two week high of $107.19. The stock has a market capitalization of $7.76 billion, a PE ratio of 9.54, a PEG ratio of 1.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69.

Axis Capital (NYSE:AXS) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.41. Axis Capital had a net margin of 14.30% and a return on equity of 18.77%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. Axis Capital’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. JMP Securities restated a “market perform” rating on shares of Axis Capital in a research note on Thursday, May 1st. UBS Group restated a “buy” rating and issued a $119.00 target price (up from $115.00) on shares of Axis Capital in a research note on Monday, August 4th. Wells Fargo & Company upped their target price on shares of Axis Capital from $104.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Finally, Cowen restated a “buy” rating on shares of Axis Capital in a research note on Wednesday, May 14th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.43.

Axis Capital Profile

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.