Quadrature Capital Ltd Sells 681 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Quadrature Capital Ltd reduced its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,697 shares of the insurance provider’s stock after selling 681 shares during the quarter. Quadrature Capital Ltd’s holdings in AXIS Capital were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in AXIS Capital in the fourth quarter valued at approximately $1,785,000. Norges Bank acquired a new stake in AXIS Capital in the fourth quarter worth $52,845,000. Foundry Partners LLC acquired a new stake in AXIS Capital in the fourth quarter worth $3,503,000. Meritage Portfolio Management raised its holdings in AXIS Capital by 1,132.7% in the fourth quarter. Meritage Portfolio Management now owns 95,474 shares of the insurance provider’s stock worth $5,286,000 after purchasing an additional 87,729 shares during the period. Finally, ING Groep NV acquired a new stake in AXIS Capital in the fourth quarter worth $1,168,000. 93.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AXS. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $86.00 price objective on shares of AXIS Capital in a report on Monday. Finally, StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.33.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $70.82 on Thursday. The firm has a 50 day moving average of $67.94 and a 200-day moving average of $62.31. The stock has a market capitalization of $6.00 billion, a PE ratio of 10.83, a PEG ratio of 0.25 and a beta of 0.89. AXIS Capital Holdings Limited has a 12 month low of $52.02 and a 12 month high of $74.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that AXIS Capital Holdings Limited will post 10.11 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, June 28th. AXIS Capital’s dividend payout ratio is currently 26.91%.

Insider Activity

In other news, Director W Marston Becker acquired 3,025 shares of AXIS Capital stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $66.58 per share, with a total value of $201,404.50. Following the purchase, the director now owns 21,821 shares in the company, valued at approximately $1,452,842.18. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Stanley A. Galanski bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $71.43 per share, with a total value of $142,860.00. Following the completion of the purchase, the director now directly owns 11,763 shares in the company, valued at $840,231.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Marston Becker acquired 3,025 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the acquisition, the director now owns 21,821 shares of the company’s stock, valued at approximately $1,452,842.18. The disclosure for this purchase can be found here. In the last three months, insiders have bought 6,425 shares of company stock valued at $444,351. 0.50% of the stock is currently owned by 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.