Jacobs Levy Equity Management Inc. Reduces Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 299,884 shares of the insurance provider’s stock after selling 18,108 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in AXIS Capital were worth $23,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of AXIS Capital by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock valued at $287,909,000 after acquiring an additional 152,914 shares during the period. AQR Capital Management LLC grew its position in AXIS Capital by 9.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock worth $182,538,000 after purchasing an additional 213,559 shares during the last quarter. Jennison Associates LLC increased its stake in AXIS Capital by 24.4% in 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. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of AXIS Capital by 12.5% in 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 buying an additional 157,110 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of AXIS Capital by 2.4% during the third quarter. Victory Capital Management Inc. now owns 1,394,491 shares of the insurance provider’s stock worth $111,015,000 after buying an additional 33,241 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Stock Performance

Shares of AXS opened at $93.55 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 52-week low of $53.49 and a 52-week high of $94.42. The company has a 50-day simple moving average of $83.44 and a 200-day simple moving average of $77.01. The company has a market capitalization of $7.83 billion, a PE ratio of 12.97, a P/E/G ratio of 0.32 and a beta of 0.94.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $2.34 EPS. Equities research analysts predict that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Jefferies Financial Group upped their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen increased their price target on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. UBS Group lifted their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Bank of America upped their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus price target of $97.14.

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.