Bank of New York Mellon Corp Increases Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Bank of New York Mellon Corp increased its position in AXIS Capital Holdings Limited (NYSE:AXS) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 276,691 shares of the insurance provider’s stock after acquiring an additional 23,135 shares during the period. Bank of New York Mellon Corp owned about 0.33% of AXIS Capital worth $19,548,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in AXIS Capital by 3.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock valued at $368,000 after buying an additional 172 shares during the last quarter. Covestor Ltd raised its stake in AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after buying an additional 185 shares during the last quarter. GAMMA Investing LLC raised its stake in AXIS Capital by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after buying an additional 226 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in AXIS Capital by 0.7% during the 4th quarter. Teacher Retirement System of Texas now owns 42,833 shares of the insurance provider’s stock valued at $2,372,000 after buying an additional 318 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Trading Down 0.8 %

Shares of AXIS Capital stock opened at $76.70 on Friday. The company has a market capitalization of $6.49 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $73.78 and a 200 day moving average of $68.87. AXIS Capital Holdings Limited has a fifty-two week low of $52.90 and a fifty-two week high of $80.50.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 10.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AXS has been the subject of several analyst reports. Roth Mkm upped their price objective on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America upped their price objective on AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price objective on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. UBS Group upped their price objective on AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company upped their price objective on AXIS Capital from $63.00 to $74.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.29.

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.