AXIS Capital Holdings Limited (NYSE:AXS) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,650,965 shares of the insurance provider’s stock after purchasing an additional 25,908 shares during the period. Jennison Associates LLC’s holdings in AXIS Capital were worth $146,309,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXS. Millennium Management LLC lifted its position in AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after acquiring an additional 226,956 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of AXIS Capital by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,224 shares of the insurance provider’s stock valued at $1,076,000 after purchasing an additional 621 shares during the last quarter. Truist Financial Corp boosted its position in shares of AXIS Capital by 19.9% in the 2nd quarter. Truist Financial Corp now owns 9,773 shares of the insurance provider’s stock valued at $690,000 after purchasing an additional 1,620 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of AXIS Capital in the 2nd quarter valued at about $1,653,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in 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 buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday. 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. TD Cowen lifted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, UBS Group raised their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.25.

AXIS Capital Stock Down 1.9 %

Shares of NYSE:AXS opened at $90.98 on Monday. AXIS Capital Holdings Limited has a fifty-two week low of $55.56 and a fifty-two week high of $94.89. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $90.09 and its 200-day simple moving average is $82.64. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 3.87 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, equities research analysts predict that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s payout ratio is 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.