Proficio Capital Partners LLC Acquires Shares of 18,876 AXIS Capital Holdings Limited (NYSE:AXS)

Proficio Capital Partners LLC purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, HoldingsChannel reports. The firm purchased 18,876 shares of the insurance provider’s stock, valued at approximately $1,673,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in AXIS Capital in the 3rd quarter valued at $40,000. Steward Partners Investment Advisory LLC acquired a new stake in AXIS Capital during the fourth quarter worth approximately $53,000. Versant Capital Management Inc increased its position in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of AXIS Capital in the 4th quarter valued at approximately $60,000. Finally, Assetmark Inc. acquired a new stake in shares of AXIS Capital during the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Wells Fargo & Company reduced their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.25.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

AXIS Capital Trading Up 0.1 %

NYSE:AXS opened at $94.97 on Thursday. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 3.96 and a beta of 0.91. The firm has a fifty day simple moving average of $91.60 and a two-hundred day simple moving average of $86.84. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 12 month low of $60.45 and a 12 month high of $98.11.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. AXIS Capital’s payout ratio is 14.25%.

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.