Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $607,000 in Axis Capital Holdings Limited $AXS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Axis Capital Holdings Limited (NYSE:AXS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,336 shares of the insurance provider’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Axis Capital during the 3rd quarter worth approximately $29,000. Smithfield Trust Co raised its stake in shares of Axis Capital by 94.0% during the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Axis Capital during the second quarter worth $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Axis Capital during the second quarter worth $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Axis Capital in the 3rd quarter valued at $43,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Trading Down 0.7%

Shares of AXS opened at $104.31 on Tuesday. Axis Capital Holdings Limited has a twelve month low of $84.81 and a twelve month high of $110.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $8.04 billion, a P/E ratio of 8.42, a PEG ratio of 3.12 and a beta of 0.63. The firm’s 50-day moving average is $104.36 and its two-hundred day moving average is $99.80.

Axis Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.97 by $0.28. Axis Capital had a return on equity of 18.90% and a net margin of 15.37%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company earned $3.38 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, December 31st. Axis Capital’s payout ratio is 14.21%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXS. Wells Fargo & Company cut their price objective on shares of Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Mizuho set a $141.00 price target on shares of Axis Capital in a research note on Monday, February 2nd. Roth Mkm restated a “buy” rating and issued a $120.00 price objective on shares of Axis Capital in a research report on Thursday, January 29th. Bank of America lowered their price objective on Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Finally, UBS Group reissued a “buy” rating on shares of Axis Capital in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

About Axis Capital

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.