Axis Capital Holdings Limited $AXS Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in Axis Capital Holdings Limited (NYSE:AXS) by 54.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,254 shares of the insurance provider’s stock after selling 5,007 shares during the quarter. QRG Capital Management Inc.’s holdings in Axis Capital were worth $408,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Axis Capital by 12.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,716,201 shares of the insurance provider’s stock worth $383,698,000 after buying an additional 425,790 shares during the period. Altrinsic Global Advisors LLC raised its holdings in shares of Axis Capital by 47.7% during the second quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock worth $188,662,000 after purchasing an additional 586,576 shares during the last quarter. State Street Corp lifted its position in Axis Capital by 1.0% during the second quarter. State Street Corp now owns 1,631,198 shares of the insurance provider’s stock valued at $170,069,000 after purchasing an additional 15,755 shares during the period. Swedbank AB lifted its position in Axis Capital by 23.9% during the third quarter. Swedbank AB now owns 1,194,754 shares of the insurance provider’s stock valued at $114,457,000 after purchasing an additional 230,494 shares during the period. Finally, Norges Bank purchased a new stake in Axis Capital in the second quarter valued at $100,683,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Trading Down 0.9%

Shares of AXS stock opened at $101.99 on Friday. 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 company has a market cap of $7.86 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.96 and a beta of 0.65. The stock has a 50 day simple moving average of $103.25 and a 200-day simple moving average of $98.66. Axis Capital Holdings Limited has a 1-year low of $84.81 and a 1-year high of $110.34.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. The firm had revenue of $1.67 billion for 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%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. On average, equities research analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital’s payout ratio is currently 14.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings cut Axis Capital from a “buy (a-)” rating to a “buy (b)” rating in a report on Thursday. Royal Bank Of Canada began coverage on Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 price target for the company. Mizuho initiated coverage on Axis Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $133.00 price objective on the stock. Compass Point set a $121.00 price objective on shares of Axis Capital in a research note on Monday, November 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $110.00 target price on shares of Axis Capital in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Axis Capital has a consensus rating of “Moderate Buy” and an average target price of $121.89.

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.