Axis Capital Holdings Limited $AXS Position Cut by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,649 shares of the insurance provider’s stock after selling 5,357 shares during the quarter. Corient Private Wealth LLC owned about 0.07% of Axis Capital worth $5,852,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in Axis Capital by 1,024.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,608 shares of the insurance provider’s stock valued at $172,000 after purchasing an additional 1,465 shares during the last quarter. Villanova Investment Management Co LLC grew its position in Axis Capital by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 46,710 shares of the insurance provider’s stock worth $5,002,000 after purchasing an additional 190 shares during the last quarter. Kera Capital Partners Inc. increased its stake in shares of Axis Capital by 20.7% in the fourth quarter. Kera Capital Partners Inc. now owns 3,930 shares of the insurance provider’s stock valued at $406,000 after purchasing an additional 673 shares during the period. Virtu Financial LLC acquired a new stake in shares of Axis Capital in the fourth quarter valued at approximately $224,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Axis Capital by 82.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 40,330 shares of the insurance provider’s stock valued at $4,319,000 after buying an additional 18,234 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Insider Transactions at Axis Capital

In other news, Director Henry B. Smith sold 2,542 shares of Axis Capital stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AXS. Mizuho set a $137.00 price objective on Axis Capital in a research report on Monday, May 4th. Bank of America cut their target price on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings lowered Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. Keefe, Bruyette & Woods decreased their price target on Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company lowered their price target on Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.10.

Axis Capital Trading Down 1.3%

Shares of NYSE:AXS opened at $104.65 on Friday. The company has a 50 day moving average of $99.73 and a 200-day moving average of $101.95. The firm has a market cap of $7.71 billion, a P/E ratio of 7.80, a P/E/G ratio of 3.24 and a beta of 0.51. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $110.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $3.17 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Axis Capital Holdings Limited will post 13.25 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is presently 13.11%.

Axis Capital 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.