VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.11 Million Position in Axis Capital Holdings Limited $AXS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Axis Capital Holdings Limited (NYSE:AXSFree Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,930 shares of the insurance provider’s stock, valued at approximately $3,107,000.

Several other large investors have also recently added to or reduced their stakes in AXS. IFP Advisors Inc lifted its stake in Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 540 shares during the last quarter. Parallel Advisors LLC lifted its stake in Axis Capital by 34.0% during the second quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 259 shares during the last quarter. Private Trust Co. NA lifted its stake in Axis Capital by 36.9% during the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider’s stock worth $119,000 after purchasing an additional 319 shares during the last quarter. New York State Teachers Retirement System bought a new position in Axis Capital during the second quarter worth $126,000. Finally, US Bancorp DE lifted its stake in Axis Capital by 34.3% during the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 416 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Axis Capital news, Director Henry B. Smith sold 3,500 shares of Axis Capital stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $98.67, for a total transaction of $345,345.00. Following the transaction, the director owned 47,295 shares of the company’s stock, valued at $4,666,597.65. The trade was a 6.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Draper sold 4,305 shares of Axis Capital stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the sale, the insider owned 16,269 shares of the company’s stock, valued at approximately $1,587,366.33. This represents a 20.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,205 shares of company stock worth $1,188,048. Company insiders own 0.70% of the company’s stock.

Axis Capital Trading Down 0.6%

Shares of AXS stock opened at $91.95 on Tuesday. The stock has a 50-day simple moving average of $96.52 and a 200 day simple moving average of $97.81. Axis Capital Holdings Limited has a fifty-two week low of $77.21 and a fifty-two week high of $107.19. The stock has a market capitalization of $7.19 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.12 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXSGet Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.41. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%.Axis Capital’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. On average, sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Axis Capital’s payout ratio is 16.92%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AXS shares. Keefe, Bruyette & Woods raised their price objective on Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. The Goldman Sachs Group started coverage on Axis Capital in a research note on Tuesday, October 14th. They set a “neutral” rating and a $104.00 price objective on the stock. Wall Street Zen lowered Axis Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group increased their target price on Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $123.00 target price on Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.29.

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

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