Clear Harbor Asset Management LLC Sells 15,654 Shares of Axis Capital Holdings Limited $AXS

Clear Harbor Asset Management LLC reduced its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 21.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,833 shares of the insurance provider’s stock after selling 15,654 shares during the period. Clear Harbor Asset Management LLC’s holdings in Axis Capital were worth $5,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smithfield Trust Co grew its position in shares of Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 142 shares during the period. AlphaCore Capital LLC purchased a new position in Axis Capital during the second quarter valued at $37,000. Elevation Point Wealth Partners LLC bought a new stake in Axis Capital during the second quarter valued at about $41,000. Allworth Financial LP grew its holdings in Axis Capital by 145.1% during the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock valued at $60,000 after purchasing an additional 344 shares during the period. Finally, Mather Group LLC. purchased a new stake in Axis Capital in the third quarter worth about $62,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

AXS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $110.00 price target on shares of Axis Capital in a report on Wednesday. Royal Bank Of Canada started coverage on shares of Axis Capital in a research report on Monday, November 24th. They issued an “outperform” rating and a $125.00 price target for the company. Bank of America restated a “neutral” rating and set a $115.00 price objective (down from $116.00) on shares of Axis Capital in a research report on Tuesday. Finally, Mizuho started coverage on shares of Axis Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $133.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.90.

Axis Capital Trading Up 0.6%

Axis Capital stock opened at $103.80 on Friday. Axis Capital Holdings Limited has a 1 year low of $83.90 and a 1 year high of $110.34. The firm’s 50 day moving average price is $102.66 and its 200-day moving average price is $98.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $8.00 billion, a P/E ratio of 8.58, a PEG ratio of 1.03 and a beta of 0.65.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.53. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. Axis Capital’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $2.71 earnings per share. On average, equities analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Axis Capital’s payout ratio is 14.55%.

Axis Capital Company Profile

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.