Conrad D. Brooks Sells 7,500 Shares of Axis Capital Holdings Limited (AXS) Stock

Axis Capital Holdings Limited (NYSE:AXS) EVP Conrad D. Brooks sold 7,500 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total value of $392,325.00. Following the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at $315,272.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Axis Capital Holdings Limited (AXS) traded down $0.75 during trading on Friday, hitting $51.64. The stock had a trading volume of 1,014,499 shares, compared to its average volume of 551,131. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.21. Axis Capital Holdings Limited has a 12 month low of $51.14 and a 12 month high of $71.06.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.34) by ($0.01). Axis Capital had a negative return on equity of 2.59% and a negative net margin of 4.55%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $972.10 million. During the same period in the previous year, the company earned $1.78 EPS. research analysts forecast that Axis Capital Holdings Limited will post -2.2 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. BlueMountain Capital Management LLC increased its holdings in Axis Capital by 62.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 979 shares in the last quarter. Quantbot Technologies LP acquired a new position in Axis Capital in the 2nd quarter worth about $203,000. The Manufacturers Life Insurance Company acquired a new position in Axis Capital in the 2nd quarter worth about $207,000. Toronto Dominion Bank increased its holdings in Axis Capital by 237.6% in the 3rd quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 2,514 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Axis Capital in the 3rd quarter worth about $224,000. 87.54% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on AXS. UBS cut their target price on Axis Capital from $57.00 to $55.00 and set a “sell” rating for the company in a research report on Monday, October 2nd. MKM Partners cut their target price on Axis Capital from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Citigroup cut their target price on Axis Capital from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Zacks Investment Research downgraded Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley cut their target price on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $61.45.

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About Axis Capital

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

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