Park Avenue Securities LLC Has $211,000 Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Park Avenue Securities LLC lessened its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,645 shares of the insurance provider’s stock after selling 390 shares during the period. Park Avenue Securities LLC’s holdings in AXIS Capital were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AXS. Point72 Asia Singapore Pte. Ltd. grew its position in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of AXIS Capital in the second quarter worth approximately $1,653,000. Truist Financial Corp boosted its holdings in AXIS Capital by 19.9% in the second quarter. Truist Financial Corp now owns 9,773 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 1,620 shares during the last quarter. Algert Global LLC increased its position in AXIS Capital by 9.9% during the 2nd quarter. Algert Global LLC now owns 77,318 shares of the insurance provider’s stock valued at $5,463,000 after purchasing an additional 6,988 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its holdings in AXIS Capital by 533.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 32,965 shares of the insurance provider’s stock worth $2,329,000 after purchasing an additional 27,765 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AXS shares. Jefferies Financial Group upped their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America increased their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Roth Mkm boosted their price objective on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group raised their target price 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 boosted their price target on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.86.

AXIS Capital Stock Up 0.4 %

Shares of NYSE:AXS opened at $80.92 on Tuesday. The firm has a market cap of $6.85 billion, a P/E ratio of 12.37, a PEG ratio of 0.27 and a beta of 0.89. AXIS Capital Holdings Limited has a 52-week low of $52.90 and a 52-week high of $82.33. The business’s 50 day simple moving average is $77.55 and its two-hundred day simple moving average is $71.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.49 billion. During the same quarter in the previous year, the business posted $2.23 EPS. AXIS Capital’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, research analysts forecast that AXIS Capital Holdings Limited will post 10.72 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 30th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

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.