Seven Eight Capital LP Invests $527,000 in AXIS Capital Holdings Limited (NYSE:AXS)

Seven Eight Capital LP bought a new position in AXIS Capital Holdings Limited (NYSE:AXS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,461 shares of the insurance provider’s stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in AXIS Capital during the 4th quarter valued at $52,845,000. Toronto Dominion Bank acquired a new stake in AXIS Capital during the 1st quarter valued at $5,137,000. Foundry Partners LLC increased its holdings in AXIS Capital by 35.6% during the 1st quarter. Foundry Partners LLC now owns 85,803 shares of the insurance provider’s stock valued at $5,579,000 after purchasing an additional 22,540 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in AXIS Capital during the 4th quarter valued at $1,619,000. Finally, Vanguard Group Inc. increased its holdings in AXIS Capital by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 8,707,110 shares of the insurance provider’s stock valued at $482,113,000 after purchasing an additional 75,085 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXS has been the subject of a number of recent analyst reports. Roth Mkm raised their price target on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 note on Monday, August 12th. Bank of America lifted their target price on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, UBS Group lifted their target price on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

AXIS Capital Stock Down 0.4 %

NYSE:AXS opened at $77.91 on Friday. The stock’s fifty day simple moving average is $75.36 and its 200-day simple moving average is $70.04. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.60 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.25 and a beta of 0.89. AXIS Capital Holdings Limited has a 12-month low of $52.90 and a 12-month high of $80.50.

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

AXIS Capital Announces Dividend

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

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.