Algert Global LLC Raises Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Algert Global LLC boosted its position in AXIS Capital Holdings Limited (NYSE:AXS) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,011 shares of the insurance provider’s stock after buying an additional 9,693 shares during the quarter. Algert Global LLC owned approximately 0.10% of AXIS Capital worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in AXIS Capital by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock worth $287,909,000 after buying an additional 152,914 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of AXIS Capital by 9.0% during the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after purchasing an additional 213,559 shares during the period. Janus Henderson Group PLC boosted its stake in shares of AXIS Capital by 30.7% during the first quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock valued at $150,928,000 after purchasing an additional 545,546 shares during the period. Jennison Associates LLC boosted its stake in shares of AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after purchasing an additional 318,784 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of AXIS Capital by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after purchasing an additional 157,110 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXS opened at $88.75 on Friday. The stock has a fifty day simple moving average of $81.47 and a two-hundred day simple moving average of $75.82. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.30 and a beta of 0.90. AXIS Capital Holdings Limited has a 12-month low of $53.49 and a 12-month high of $89.31.

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, topping analysts’ consensus estimates of $2.55 by $0.16. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same quarter in the prior year, the company earned $2.34 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.44 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.98%. AXIS Capital’s dividend payout ratio (DPR) is 24.41%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm increased their price objective on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company raised their price target on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

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.