Levin Capital Strategies L.P. Has $17.62 Million Holdings in Axis Capital Holdings Limited $AXS

Levin Capital Strategies L.P. decreased its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 30.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,739 shares of the insurance provider’s stock after selling 75,909 shares during the quarter. Axis Capital accounts for about 1.3% of Levin Capital Strategies L.P.’s portfolio, making the stock its 20th largest holding. Levin Capital Strategies L.P. owned approximately 0.24% of Axis Capital worth $17,619,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AXS. Activest Wealth Management bought a new position in shares of Axis Capital during the fourth quarter worth approximately $30,000. Assetmark Inc. boosted its stake in shares of Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock valued at $40,000 after buying an additional 177 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Axis Capital in the first quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital during the fourth quarter worth approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Axis Capital during the fourth quarter worth approximately $51,000. Institutional investors own 93.44% of the company’s stock.

Insider Buying and Selling at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Axis Capital Stock Performance

Shares of NYSE:AXS opened at $113.77 on Thursday. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $116.63. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 3.34 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $104.50 and its 200 day simple moving average is $102.78.

Axis Capital (NYSE:AXS) last released its 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. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.17 earnings per share. As a group, research analysts predict that Axis Capital Holdings Limited will post 13.23 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 30th. Axis Capital’s dividend payout ratio is currently 13.11%.

Wall Street Analyst Weigh In

AXS has been the topic of a number of recent research reports. Weiss Ratings upgraded Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on Axis Capital from $126.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Atlantic Securities set a $122.00 price target on Axis Capital in a research report on Wednesday, July 15th. UBS Group boosted their price target on Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Mizuho upped their price objective on shares of Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.45.

Axis Capital Company 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.