Geode Capital Management LLC Raises Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Geode Capital Management LLC raised its position in AXIS Capital Holdings Limited (NYSE:AXS) by 3.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,267,338 shares of the insurance provider’s stock after purchasing an additional 43,687 shares during the period. Geode Capital Management LLC’s holdings in AXIS Capital were worth $100,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXS. Independent Advisor Alliance lifted its stake in shares of AXIS Capital by 0.4% in the third quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after buying an additional 125 shares in the last quarter. Pathstone Holdings LLC lifted its stake in AXIS Capital by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 127 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of AXIS Capital by 32.6% during the 2nd 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 during the last quarter. Gries Financial LLC grew its position in shares of AXIS Capital by 4.9% in the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 166 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AXIS Capital by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock valued at $1,226,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXS stock opened at $88.20 on Thursday. AXIS Capital Holdings Limited has a one year low of $53.49 and a one year high of $94.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50 day moving average price is $85.84 and its 200-day moving average price is $78.40. The firm has a market cap of $7.38 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.31 and a beta of 0.94.

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

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 2.00%. AXIS Capital’s dividend payout ratio is presently 24.41%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note 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 research report on Thursday, October 10th. Wells Fargo & Company upgraded shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, December 11th. UBS Group boosted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, TD Cowen raised their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.71.

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.