Swedbank AB Raises Position in Axis Capital Holdings Limited $AXS

Swedbank AB lifted its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 14.0% in the first quarter, Holdings Channel reports. The firm owned 1,362,091 shares of the insurance provider’s stock after buying an additional 167,337 shares during the period. Swedbank AB’s holdings in Axis Capital were worth $138,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Activest Wealth Management acquired a new position in Axis Capital during the 4th quarter valued at about $30,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital in the fourth quarter worth about $47,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Axis Capital in the fourth quarter worth about $51,000. DV Equities LLC purchased a new stake in shares of Axis Capital during the fourth quarter worth about $54,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Axis Capital during the fourth quarter worth about $55,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the transaction, the director owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

Axis Capital Trading Up 1.2%

Axis Capital stock opened at $114.37 on Wednesday. The stock has a 50-day moving average price of $101.35 and a 200 day moving average price of $102.39. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 3.46 and a beta of 0.49. Axis Capital Holdings Limited has a 52 week low of $88.07 and a 52 week high of $115.91. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company earned $3.17 EPS. Axis Capital’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Axis Capital Holdings Limited will post 13.25 EPS for the current year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.5%. Axis Capital’s dividend payout ratio is presently 13.11%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho set a $137.00 price objective on shares of Axis Capital in a research report on Monday, May 4th. Bank of America dropped their target price on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods cut their price target on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.10.

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.