Thoroughbred Financial Services LLC Purchases New Position in AXIS Capital Holdings Limited (NYSE:AXS)

Thoroughbred Financial Services LLC acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,659 shares of the insurance provider’s stock, valued at approximately $258,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Gries Financial LLC increased its stake 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 buying an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in AXIS Capital by 3.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock worth $368,000 after buying an additional 172 shares in the last quarter. Covestor Ltd grew its holdings in AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 185 shares during the last quarter. Finally, Arizona State Retirement System increased its position in AXIS Capital by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 22,459 shares of the insurance provider’s stock valued at $1,587,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Trading Down 0.3 %

NYSE:AXS opened at $79.39 on Wednesday. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.25 and a beta of 0.89. AXIS Capital Holdings Limited has a 1-year low of $52.90 and a 1-year high of $80.50. The business’s 50-day moving average price is $74.68 and its two-hundred day moving average price is $69.60. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.41. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. On average, equities analysts expect that AXIS Capital Holdings Limited will post 10.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on AXS shares. Wells Fargo & Company increased their price target on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. UBS Group upped their price target on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Bank of America lifted their price objective on AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Roth Mkm lifted their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

AXIS Capital 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.