Axis Capital Holdings Limited $AXS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 7.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 289,734 shares of the insurance provider’s stock after selling 24,638 shares during the period. Bank of New York Mellon Corp’s holdings in Axis Capital were worth $30,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Woodline Partners LP raised its position in Axis Capital by 68.7% in the first quarter. Woodline Partners LP now owns 370,054 shares of the insurance provider’s stock worth $37,094,000 after acquiring an additional 150,652 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Axis Capital by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,752 shares of the insurance provider’s stock worth $30,649,000 after purchasing an additional 20,159 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Axis Capital in the 2nd quarter valued at about $321,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Axis Capital in the first quarter valued at about $620,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Axis Capital by 9.7% during the second quarter. Public Employees Retirement System of Ohio now owns 31,755 shares of the insurance provider’s stock worth $3,297,000 after buying an additional 2,820 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 completion of the transaction, the insider directly owned 16,269 shares in the company, valued at approximately $1,587,366.33. This represents a 20.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Henry B. Smith sold 3,500 shares of Axis Capital stock in a transaction dated Thursday, August 21st. The shares were 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 of the company’s stock, valued at $4,666,597.65. This trade represents a 6.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 10,005 shares of company stock valued at $976,584. Company insiders own 0.70% of the company’s stock.

Axis Capital Stock Down 0.4%

AXS opened at $102.26 on Friday. The firm has a market cap of $7.88 billion, a P/E ratio of 8.45, a PEG ratio of 1.06 and a beta of 0.73. The business’s fifty day simple moving average is $95.64 and its 200 day simple moving average is $98.07. Axis Capital Holdings Limited has a 52 week low of $83.90 and a 52 week high of $107.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The business had revenue of $184.90 million during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. Axis Capital’s dividend payout ratio (DPR) is 14.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AXS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axis Capital in a report on Thursday. Wells Fargo & Company set a $123.00 price objective on Axis Capital and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price on Axis Capital from $125.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Wall Street Zen cut Axis Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, UBS Group boosted their price objective on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

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.