First Eagle Investment Management LLC Raises Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

First Eagle Investment Management LLC lifted its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 146.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,999 shares of the insurance provider’s stock after purchasing an additional 122,303 shares during the quarter. First Eagle Investment Management LLC owned 0.24% of AXIS Capital worth $14,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc raised its position in AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after buying an additional 165 shares during the last quarter. Gries Financial LLC lifted its position in AXIS Capital by 4.9% during the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 166 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in AXIS Capital by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock worth $368,000 after purchasing an additional 172 shares during the last quarter. Covestor Ltd grew its position in AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the period. Finally, Arizona State Retirement System raised its stake in AXIS Capital by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 22,459 shares of the insurance provider’s stock valued at $1,587,000 after buying an additional 204 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

AXIS Capital Trading Down 0.1 %

AXIS Capital stock opened at $79.34 on Thursday. AXIS Capital Holdings Limited has a 12-month low of $52.90 and a 12-month high of $80.50. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.25 and a beta of 0.89. The firm has a 50 day moving average of $75.06 and a 200 day moving average of $69.80. 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 announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts predict that AXIS Capital Holdings Limited will post 10.71 earnings per share for the current year.

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.