Axis Capital Holdings Limited $AXS Stake Lessened by Alberta Investment Management Corp

Alberta Investment Management Corp cut its stake in Axis Capital Holdings Limited (NYSE:AXS) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,000 shares of the insurance provider’s stock after selling 80,000 shares during the period. Alberta Investment Management Corp’s holdings in Axis Capital were worth $48,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AXS. Activest Wealth Management acquired a new stake in Axis Capital during the fourth quarter valued at approximately $30,000. Abich Financial Wealth Management LLC acquired a new stake in Axis Capital during the third quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital during the fourth quarter valued at approximately $47,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Axis Capital during the fourth quarter valued at approximately $51,000. Finally, Bayforest Capital Ltd acquired a new stake in Axis Capital during the fourth quarter valued at approximately $55,000. 93.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

Axis Capital Stock Down 0.1%

Axis Capital stock opened at $101.33 on Tuesday. The firm has a market cap of $7.47 billion, a PE ratio of 7.55, a P/E/G ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $99.31 and its two-hundred day moving average price is $101.80. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $110.34.

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

Axis Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, June 30th. Axis Capital’s dividend payout ratio is currently 13.11%.

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.