Wedge Capital Management L L P NC acquired a new stake in Axis Capital Holdings Limited (NYSE:AXS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 587,864 shares of the insurance provider’s stock, valued at approximately $35,066,000. Wedge Capital Management L L P NC owned about 0.70% of Axis Capital at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its position in Axis Capital by 3.5% in the 1st quarter. Commonwealth Bank of Australia now owns 20,881 shares of the insurance provider’s stock valued at $1,139,000 after buying an additional 700 shares during the period. Oakbrook Investments LLC purchased a new stake in shares of Axis Capital during the 2nd quarter worth $203,000. First Trust Advisors LP lifted its position in shares of Axis Capital by 25.2% during the 1st quarter. First Trust Advisors LP now owns 704,168 shares of the insurance provider’s stock worth $38,574,000 after purchasing an additional 141,827 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Axis Capital by 102.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 478,633 shares of the insurance provider’s stock worth $26,221,000 after purchasing an additional 242,258 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Axis Capital during the 1st quarter worth $589,000. Institutional investors own 89.88% of the company’s stock.
NYSE AXS traded down $1.26 during trading on Wednesday, reaching $63.42. The company’s stock had a trading volume of 5,556 shares, compared to its average volume of 546,857. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.34. Axis Capital Holdings Limited has a twelve month low of $48.27 and a twelve month high of $65.08. The business’s fifty day moving average is $61.29.
Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.34. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $1.27 earnings per share. Axis Capital’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Axis Capital Holdings Limited will post 5.06 earnings per share for the current fiscal year.
Several equities research analysts recently commented on AXS shares. Buckingham Research upgraded shares of Axis Capital from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $60.00 to $70.00 in a research note on Friday, July 19th. Morgan Stanley set a $62.00 price objective on shares of Axis Capital and gave the company a “hold” rating in a research note on Friday, April 26th. UBS Group upgraded shares of Axis Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a research note on Thursday, May 23rd. TheStreet upgraded shares of Axis Capital from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. Finally, ValuEngine upgraded shares of Axis Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Axis Capital presently has a consensus rating of “Buy” and an average price target of $64.00.
Axis Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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