Hsbc Holdings PLC Raises Stock Position in Axis Capital Holdings Limited $AXS

Hsbc Holdings PLC grew its position in Axis Capital Holdings Limited (NYSE:AXS) by 1,102.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,575 shares of the insurance provider’s stock after buying an additional 60,121 shares during the period. Hsbc Holdings PLC owned 0.09% of Axis Capital worth $6,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXS. Activest Wealth Management acquired a new position in Axis Capital in the fourth quarter valued at approximately $30,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital during the fourth quarter worth $47,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Axis Capital in the fourth quarter valued at $51,000. DV Equities LLC purchased a new stake in Axis Capital in the fourth quarter valued at $54,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Axis Capital in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Trading Up 0.8%

AXS opened at $114.59 on Friday. The business has a fifty day moving average price of $104.84 and a 200 day moving average price of $102.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. Axis Capital Holdings Limited has a 12 month low of $88.07 and a 12 month high of $116.63. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 3.32 and a beta of 0.49.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned $3.17 EPS. Axis Capital’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AXS shares. Wells Fargo & Company increased their price target on Axis Capital from $119.00 to $134.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Bank of America lowered their target price on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Atlantic Securities set a $122.00 price target on shares of Axis Capital in a research report on Wednesday, July 15th. UBS Group boosted their price target on shares of Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.45.

Insider Buying and Selling

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were 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 approximately $4,573,985.43. This represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

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.