Allspring Global Investments Holdings LLC Raises Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Allspring Global Investments Holdings LLC grew its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,183,385 shares of the insurance provider’s stock after buying an additional 9,181 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AXIS Capital were worth $94,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake 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 valued at $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC increased its position in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares during the last quarter. Covestor Ltd increased its position in AXIS Capital by 45.9% during the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 185 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position 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 valued at $43,000 after acquiring an additional 148 shares during the last quarter. Finally, Blue Trust Inc. increased its position in AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 985 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their target price on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.86.

AXIS Capital Price Performance

Shares of AXS stock opened at $82.85 on Monday. AXIS Capital Holdings Limited has a twelve month low of $52.90 and a twelve month high of $83.19. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $78.30 and a two-hundred day simple moving average of $72.47. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 0.27 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. On average, analysts predict that AXIS Capital Holdings Limited will post 10.72 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.12%. AXIS Capital’s dividend payout ratio is presently 26.91%.

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.