Meeder Asset Management Inc. Makes New $190,000 Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Meeder Asset Management Inc. bought a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,387 shares of the insurance provider’s stock, valued at approximately $190,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the period. GAMMA Investing LLC raised its stake in shares of AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares in the last quarter. Covestor Ltd boosted its holdings in shares of AXIS Capital by 45.9% in the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 985 shares during the period. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Trading Down 1.0 %

Shares of NYSE:AXS opened at $85.38 on Wednesday. The business’s 50-day moving average is $80.79 and its 200 day moving average is $75.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a 1 year low of $53.49 and a 1 year high of $86.92. The firm has a market capitalization of $7.14 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same quarter in the prior year, the company posted $2.34 earnings per share. On average, research analysts predict that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 2.06%. AXIS Capital’s payout ratio is currently 24.41%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXS. TD Cowen began coverage on AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America boosted their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price target on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.