Axis Capital Holdings Limited $AXS Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 13.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 132,167 shares of the insurance provider’s stock after selling 19,883 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Axis Capital were worth $13,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXS. Activest Wealth Management acquired a new stake in Axis Capital during the fourth quarter worth about $30,000. Fideuram Asset Management Ireland dac acquired a new position in Axis Capital in the 4th quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC acquired a new position in Axis Capital in the 4th quarter valued at about $51,000. DV Equities LLC purchased a new stake in shares of Axis Capital in the 4th quarter valued at approximately $54,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Axis Capital in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Down 0.5%

Axis Capital stock opened at $114.48 on Wednesday. The company has a market capitalization of $8.44 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 3.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $116.63. The firm has a 50 day moving average price of $104.17 and a 200 day moving average price of $102.73.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. Research analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Axis Capital’s payout ratio is currently 13.11%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 7th. Mizuho increased their price objective on Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. UBS Group raised their target price on Axis Capital from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Atlantic Securities set a $122.00 target price on Axis Capital in a research report on Wednesday, July 15th. Finally, Bank of America reduced their target price on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Axis Capital has a consensus rating of “Moderate Buy” and an average target price of $124.45.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

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.