Global Assets Advisory LLC Invests $1.87 Million in AXIS Capital Holdings Limited (NYSE:AXS)

Global Assets Advisory LLC purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,799 shares of the insurance provider’s stock, valued at approximately $1,873,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paragon Capital Management Ltd purchased a new position in shares of AXIS Capital during the 1st quarter worth approximately $202,000. Alaska Permanent Fund Corp boosted its position in shares of AXIS Capital by 0.9% during the 1st quarter. Alaska Permanent Fund Corp now owns 56,915 shares of the insurance provider’s stock worth $3,701,000 after purchasing an additional 491 shares during the period. CWM LLC boosted its position in shares of AXIS Capital by 135.6% during the 1st quarter. CWM LLC now owns 6,694 shares of the insurance provider’s stock worth $435,000 after purchasing an additional 3,853 shares during the period. Vanguard Group Inc. boosted its position in shares of AXIS Capital by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 8,707,110 shares of the insurance provider’s stock worth $482,113,000 after purchasing an additional 75,085 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of AXIS Capital by 1.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 303,481 shares of the insurance provider’s stock worth $16,804,000 after purchasing an additional 5,578 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Transactions at AXIS Capital

In other news, Director W Marston Becker acquired 3,025 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $66.58 per share, with a total value of $201,404.50. Following the transaction, the director now owns 21,821 shares in the company, valued at $1,452,842.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director W Marston Becker purchased 3,025 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $66.58 per share, for a total transaction of $201,404.50. Following the purchase, the director now directly owns 21,821 shares of the company’s stock, valued at $1,452,842.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Millegan purchased 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the purchase, the director now directly owns 9,016 shares in the company, valued at $644,553.84. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,425 shares of company stock valued at $444,351. Insiders own 0.50% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXS stock opened at $71.50 on Wednesday. The stock has a market capitalization of $6.05 billion, a PE ratio of 10.93, a P/E/G ratio of 0.26 and a beta of 0.89. The firm has a 50 day moving average of $68.73 and a two-hundred day moving average of $62.79. AXIS Capital Holdings Limited has a 52 week low of $52.02 and a 52 week high of $74.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. On average, research analysts predict that AXIS Capital Holdings Limited will post 10.11 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.76 annualized dividend and a dividend yield of 2.46%. AXIS Capital’s dividend payout ratio (DPR) is currently 26.91%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXS. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price target on shares of AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $86.00 price target on shares of AXIS Capital in a research report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.33.

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.