Ibex Wealth Advisors Boosts Position in Axis Capital Holdings Limited $AXS

Ibex Wealth Advisors increased its stake in Axis Capital Holdings Limited (NYSE:AXS) by 26.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,927 shares of the insurance provider’s stock after purchasing an additional 10,877 shares during the quarter. Ibex Wealth Advisors owned approximately 0.07% of Axis Capital worth $5,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 540 shares in the last quarter. Allworth Financial LP boosted its position in shares of Axis Capital by 145.1% during the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 344 shares during the last quarter. Parallel Advisors LLC grew 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 valued at $106,000 after acquiring an additional 259 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Axis Capital in the 2nd quarter valued at $126,000. Finally, US Bancorp DE boosted its holdings in shares of Axis Capital by 34.3% during the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider’s stock valued at $163,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AXS shares. Weiss Ratings reissued a “buy (b+)” rating on shares of Axis Capital in a research note on Wednesday, October 8th. Wall Street Zen downgraded Axis Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Axis Capital in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Axis Capital from $125.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, UBS Group lifted their price objective on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research note 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Axis Capital Stock Performance

Shares of NYSE:AXS opened at $99.51 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a 12 month low of $82.92 and a 12 month high of $107.19. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.06 and a beta of 0.73. The firm’s 50-day moving average is $95.35 and its 200 day moving average is $97.90.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.53. The business had revenue of $184.90 million during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 earnings per share. Research analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were issued a dividend of $0.44 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. Axis Capital’s payout ratio is presently 14.55%.

Insiders Place Their Bets

In other Axis Capital news, insider Daniel J. Draper sold 4,305 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $97.57, for a total value of $420,038.85. Following the transaction, the insider owned 16,269 shares of the company’s stock, valued at $1,587,366.33. This represents a 20.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of the sale, the director owned 47,295 shares in the company, valued at approximately $4,666,597.65. The trade was a 6.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,205 shares of company stock valued at $1,188,048. 0.70% of the stock is owned by company insiders.

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.