Intech Investment Management LLC Invests $235,000 in AXIS Capital Holdings Limited (NYSE:AXS)

Intech Investment Management LLC purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,946 shares of the insurance provider’s stock, valued at approximately $235,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of AXIS Capital by 8.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 300,726 shares of the insurance provider’s stock valued at $23,941,000 after purchasing an additional 23,377 shares in the last quarter. Jennison Associates LLC lifted its holdings in AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after buying an additional 318,784 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of AXIS Capital in the 3rd quarter worth approximately $190,000. Pathstone Holdings LLC increased its holdings in shares of AXIS Capital by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock valued at $2,542,000 after acquiring an additional 127 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of AXIS Capital during the 3rd quarter valued at approximately $212,000. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Price Performance

NYSE AXS opened at $94.05 on Friday. The firm has a market capitalization of $7.87 billion, a PE ratio of 13.04, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a 12 month low of $53.49 and a 12 month high of $94.54. The company’s 50 day simple moving average is $84.01 and its 200 day simple moving average is $77.24.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. As a group, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.83 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

Wall Street Analysts Forecast Growth

AXS has been the subject of several research reports. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America lifted their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group increased their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods boosted their price objective on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.14.

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.