AXIS Capital Holdings Limited (NYSE:AXS) Director Sells $199,999,922.00 in Stock

AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

AXIS Capital Stock Performance

Shares of AXS traded down $0.90 during mid-day trading on Monday, reaching $90.12. 660,182 shares of the company’s stock were exchanged, compared to its average volume of 699,432. AXIS Capital Holdings Limited has a 52-week low of $56.93 and a 52-week high of $94.89. The stock has a market capitalization of $7.54 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95. The business’s fifty day simple moving average is $90.07 and its 200-day simple moving average is $82.75. 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 earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, equities research analysts expect that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.95%. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXS. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research note on Monday. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company dropped their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, AXIS Capital presently has an average rating of “Moderate Buy” and an average price target of $99.25.

Hedge Funds Weigh In On AXIS Capital

Large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of AXIS Capital in the 3rd quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. increased 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 period. Versant Capital Management Inc boosted its holdings in AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of AXIS Capital by 28.5% during the 4th quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock valued at $74,000 after buying an additional 185 shares during the last quarter. Finally, R Squared Ltd acquired a new position in AXIS Capital during the 4th quarter worth $82,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

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.