Point72 Asia Singapore Pte. Ltd. Cuts Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Point72 Asia Singapore Pte. Ltd. reduced its position in AXIS Capital Holdings Limited (NYSE:AXS) by 58.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,063 shares of the insurance provider’s stock after selling 1,491 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in AXIS Capital were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AXS. Steward Partners Investment Advisory LLC purchased a new position in shares of AXIS Capital in the 4th quarter worth $53,000. EverSource Wealth Advisors LLC raised its holdings in AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 285 shares during the period. SBI Securities Co. Ltd. bought a new stake in AXIS Capital during the fourth quarter valued at about $60,000. Assetmark Inc. bought a new stake in AXIS Capital during the fourth quarter valued at about $70,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 185 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This represents a 47.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXS stock opened at $102.48 on Friday. The business’s fifty day simple moving average is $96.27 and its 200-day simple moving average is $92.00. The company has a market cap of $8.06 billion, a PE ratio of 8.30, a PEG ratio of 3.96 and a beta of 0.82. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 12-month low of $68.02 and a 12-month high of $102.56.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.53. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.83 billion. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.07 earnings per share. Analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 17.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXS. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $114.00 to $118.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. UBS Group boosted their target price on AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 9th. Cowen restated a “buy” rating on shares of AXIS Capital in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of AXIS Capital from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.75.

About AXIS Capital

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.