State of New Jersey Common Pension Fund D Sells 16,552 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

State of New Jersey Common Pension Fund D reduced its position in AXIS Capital Holdings Limited (NYSE:AXS) by 35.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,610 shares of the insurance provider’s stock after selling 16,552 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AXIS Capital were worth $2,092,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Levin Capital Strategies L.P. increased its stake in AXIS Capital by 2.5% in the second quarter. Levin Capital Strategies L.P. now owns 269,119 shares of the insurance provider’s stock worth $19,013,000 after purchasing an additional 6,665 shares during the period. LSV Asset Management increased its stake in AXIS Capital by 11.5% in the 2nd quarter. LSV Asset Management now owns 693,060 shares of the insurance provider’s stock worth $48,965,000 after buying an additional 71,460 shares during the period. Savant Capital LLC lifted its holdings in AXIS Capital by 26.6% during the 2nd quarter. Savant Capital LLC now owns 45,550 shares of the insurance provider’s stock valued at $3,218,000 after buying an additional 9,581 shares in the last quarter. Foundry Partners LLC lifted its holdings in AXIS Capital by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 90,353 shares of the insurance provider’s stock valued at $6,383,000 after buying an additional 4,550 shares in the last quarter. Finally, Arizona State Retirement System boosted 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 buying an additional 204 shares during the period. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Trading Down 0.4 %

Shares of NYSE:AXS opened at $77.91 on Friday. The company has a market capitalization of $6.60 billion, a PE ratio of 11.91, a P/E/G ratio of 0.25 and a beta of 0.89. 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 Holdings Limited has a 12-month low of $52.90 and a 12-month high of $80.50. The business’s fifty day simple moving average is $75.36 and its 200-day simple moving average is $69.98.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that AXIS Capital Holdings Limited will post 10.71 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 26.91%.

Analyst Ratings Changes

AXS has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. UBS Group upped their target price on 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 raised their price target on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Roth Mkm upped their price objective 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 research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AXIS Capital currently has an average 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.