Prana Capital Management LP Takes $4.20 Million Position in Axis Capital Holdings Limited (AXS)

Prana Capital Management LP purchased a new stake in Axis Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 83,650 shares of the insurance provider’s stock, valued at approximately $4,204,000. Axis Capital comprises 1.4% of Prana Capital Management LP’s holdings, making the stock its 19th biggest holding. Prana Capital Management LP owned about 0.10% of Axis Capital at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Axis Capital in the second quarter valued at about $207,000. Toronto Dominion Bank raised its holdings in shares of Axis Capital by 237.6% in the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock valued at $205,000 after buying an additional 2,514 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Axis Capital in the third quarter valued at about $224,000. Crossmark Global Holdings Inc. bought a new position in shares of Axis Capital in the third quarter valued at about $256,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of Axis Capital in the fourth quarter valued at about $226,000. 88.16% of the stock is owned by institutional investors and hedge funds.

AXS has been the subject of a number of research analyst reports. UBS Group raised Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price target for the company in a report on Thursday, January 11th. Deutsche Bank cut their price target on Axis Capital from $55.00 to $54.00 and set a “hold” rating for the company in a report on Friday, February 9th. Wells Fargo & Co raised Axis Capital from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Zacks Investment Research cut Axis Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 27th. Finally, ValuEngine raised Axis Capital from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Axis Capital presently has a consensus rating of “Hold” and an average price target of $60.22.

In other news, Director Charles A. Davis acquired 25,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $49.90 per share, with a total value of $1,247,500.00. Following the acquisition, the director now owns 34,063 shares of the company’s stock, valued at approximately $1,699,743.70. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.89% of the company’s stock.

Shares of Axis Capital Holdings Limited (NYSE AXS) opened at $55.17 on Monday. The firm has a market capitalization of $4,591.73, a PE ratio of -11.03, a price-to-earnings-growth ratio of 1.50 and a beta of 0.49. Axis Capital Holdings Limited has a twelve month low of $47.43 and a twelve month high of $69.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.30.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). The firm had revenue of $729.42 million for the quarter, compared to the consensus estimate of $549.41 million. Axis Capital had a negative return on equity of 4.48% and a negative net margin of 8.04%. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. equities analysts anticipate that Axis Capital Holdings Limited will post 4.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.56 annualized dividend and a yield of 2.83%. Axis Capital’s dividend payout ratio is currently -31.20%.

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Axis Capital Company Profile

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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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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