Entropy Technologies LP Purchases Shares of 6,364 AXIS Capital Holdings Limited (NYSE:AXS)

Entropy Technologies LP acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,364 shares of the insurance provider’s stock, valued at approximately $507,000.

Several other institutional investors have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. lifted its stake in AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc raised its holdings in shares of AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Gries Financial LLC boosted its stake in AXIS Capital by 4.9% in the 2nd quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after buying an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in AXIS Capital by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 172 shares during the period. Finally, Measured Wealth Private Client Group LLC raised its stake in AXIS Capital by 3.8% during the third quarter. Measured Wealth Private Client Group LLC now owns 4,971 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 180 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXS has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. TD Cowen assumed coverage on shares of AXIS Capital in a research note on Friday, October 4th. They set a “buy” rating and a $118.00 price objective on the stock. Bank of America raised their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price target on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

AXIS Capital Stock Performance

AXS stock opened at $86.73 on Friday. The company has a 50 day moving average price of $80.42 and a 200 day moving average price of $75.02. AXIS Capital Holdings Limited has a fifty-two week low of $53.48 and a fifty-two week high of $86.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $7.26 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Analysts forecast that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is 24.41%.

AXIS Capital Company 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.