Keybank National Association OH Cuts Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Keybank National Association OH lowered its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,470 shares of the insurance provider’s stock after selling 155 shares during the quarter. Keybank National Association OH’s holdings in AXIS Capital were worth $2,080,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in AXIS Capital in the fourth quarter worth approximately $53,000. SBI Securities Co. Ltd. purchased a new position in shares of AXIS Capital in the 4th quarter valued at $60,000. Connable Office Inc. bought a new position in shares of AXIS Capital in the 4th quarter worth $219,000. SVB Wealth LLC purchased a new stake in shares of AXIS Capital during the 4th quarter worth $260,000. Finally, Parkside Financial Bank & Trust boosted its position in AXIS Capital by 7.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock valued at $171,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AXS shares. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets assumed coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective on the stock. Wells Fargo & Company reduced their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Finally, TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.88.

Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.

AXIS Capital Price Performance

NYSE:AXS opened at $92.72 on Friday. AXIS Capital Holdings Limited has a one year low of $60.45 and a one year high of $98.11. 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 has a market cap of $7.49 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 3.96 and a beta of 0.95. The firm’s fifty day moving average is $90.73 and its two-hundred day moving average is $85.72.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

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.