Michael A. Butt Sells 40,673 Shares of Axis Capital Holdings Ltd. (AXS) Stock
Axis Capital Holdings Ltd. (NYSE:AXS) Director Michael A. Butt sold 40,673 shares of the business’s stock in a transaction on Friday, October 14th. The shares were sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the completion of the sale, the director now directly owns 1,161,675 shares in the company, valued at approximately $66,227,091.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Axis Capital Holdings Ltd. (NYSE:AXS) traded down 0.02% during midday trading on Monday, hitting $56.95. 312,769 shares of the stock traded hands. Axis Capital Holdings Ltd. has a 12-month low of $51.01 and a 12-month high of $57.98. The stock has a market capitalization of $5.16 billion, a PE ratio of 10.10 and a beta of 0.74. The firm’s 50 day moving average is $55.65 and its 200-day moving average is $54.79.
Axis Capital Holdings (NYSE:AXS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. Axis Capital Holdings had a return on equity of 6.44% and a net margin of 14.19%. The business earned $1.06 billion during the quarter, compared to the consensus estimate of $983.53 million. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Axis Capital Holdings Ltd. will post $3.64 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.35 per share. This is an increase from Axis Capital Holdings’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, September 29th. This represents a $1.40 annualized dividend and a yield of 2.46%. Axis Capital Holdings’s dividend payout ratio (DPR) is currently 25.04%.
A number of large investors have recently made changes to their positions in the stock. Vulcan Value Partners LLC increased its stake in shares of Axis Capital Holdings by 4.1% in the second quarter. Vulcan Value Partners LLC now owns 8,449,472 shares of the company’s stock valued at $464,721,000 after buying an additional 329,086 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Axis Capital Holdings by 3.2% in the second quarter. Vanguard Group Inc. now owns 7,634,997 shares of the company’s stock valued at $419,924,000 after buying an additional 234,935 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Axis Capital Holdings by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,906,504 shares of the company’s stock valued at $159,858,000 after buying an additional 27,952 shares in the last quarter. State Street Corp increased its stake in shares of Axis Capital Holdings by 1.4% in the first quarter. State Street Corp now owns 2,864,320 shares of the company’s stock valued at $158,846,000 after buying an additional 39,216 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Axis Capital Holdings by 27.8% in the second quarter. BlackRock Fund Advisors now owns 2,553,456 shares of the company’s stock valued at $140,440,000 after buying an additional 555,980 shares in the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on AXS shares. Morgan Stanley boosted their price target on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Axis Capital Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Axis Capital Holdings in a report on Tuesday, June 21st. Eight equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $59.00.
About Axis Capital Holdings
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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