Stansberry Asset Management LLC Raises Position in AXIS Capital Holdings Limited (NYSE:AXS)

Stansberry Asset Management LLC raised its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,817 shares of the insurance provider’s stock after acquiring an additional 896 shares during the quarter. AXIS Capital comprises approximately 2.7% of Stansberry Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Stansberry Asset Management LLC owned approximately 0.33% of AXIS Capital worth $21,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXS. GAMMA Investing LLC increased its holdings in shares of AXIS Capital by 80.4% in the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares during the period. CWM LLC increased its holdings in shares of AXIS Capital by 66.4% in the second quarter. CWM LLC now owns 11,142 shares of the insurance provider’s stock worth $787,000 after purchasing an additional 4,448 shares during the period. QRG Capital Management Inc. increased its holdings in shares of AXIS Capital by 5.0% in the second quarter. QRG Capital Management Inc. now owns 8,032 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 383 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AXIS Capital by 52.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,060 shares of the insurance provider’s stock worth $711,000 after purchasing an additional 3,463 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of AXIS Capital by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock worth $368,000 after purchasing an additional 172 shares during the period. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AXS shares. Jefferies Financial Group upped their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. UBS Group increased their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America increased their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.14.

AXIS Capital Trading Down 0.6 %

Shares of AXIS Capital stock opened at $93.01 on Thursday. The company’s fifty day simple moving average is $83.72 and its 200-day simple moving average is $77.12. The stock has a market capitalization of $7.78 billion, a PE ratio of 12.90, a P/E/G ratio of 0.32 and a beta of 0.94. AXIS Capital Holdings Limited has a 1-year low of $53.49 and a 1-year high of $94.42. 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 (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $2.34 EPS. As a group, equities analysts anticipate that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.89%. AXIS Capital’s payout ratio is 24.41%.

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.