Interval Partners LP Decreases Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Interval Partners LP cut its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 14.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,263 shares of the insurance provider’s stock after selling 14,972 shares during the period. Interval Partners LP owned approximately 0.10% of AXIS Capital worth $6,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in AXIS Capital in the 4th quarter valued at $52,845,000. Toronto Dominion Bank purchased a new stake in shares of AXIS Capital in the first quarter valued at about $5,137,000. Foundry Partners LLC increased its position in AXIS Capital by 35.6% during the first quarter. Foundry Partners LLC now owns 85,803 shares of the insurance provider’s stock worth $5,579,000 after purchasing an additional 22,540 shares during the last quarter. Corient Private Wealth LLC purchased a new position in AXIS Capital during the fourth quarter worth about $1,619,000. Finally, Vanguard Group Inc. boosted its holdings in AXIS Capital by 0.9% in 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 during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Stock Performance

NYSE AXS opened at $78.34 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $6.63 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.25 and a beta of 0.89. The stock has a 50-day moving average of $75.50 and a two-hundred day moving average of $70.23. AXIS Capital Holdings Limited has a 1-year low of $52.90 and a 1-year high of $80.50.

AXIS Capital (NYSE:AXS) last announced 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 the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 EPS. As a group, analysts anticipate that AXIS Capital Holdings Limited will post 10.71 EPS for the current year.

AXIS Capital Announces Dividend

The business 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 dividend of $0.44 per share. The ex-dividend date is Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.25%. AXIS Capital’s dividend payout ratio (DPR) is 26.91%.

Wall Street Analyst Weigh In

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

AXIS Capital Company 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.