Fmr LLC Has $5.75 Million Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Fmr LLC cut its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 29.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,189 shares of the insurance provider’s stock after selling 29,821 shares during the quarter. Fmr LLC owned approximately 0.09% of AXIS Capital worth $5,747,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in AXIS Capital by 8,717.0% during the second quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider’s stock worth $96,172,000 after purchasing an additional 1,345,811 shares during 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 purchasing an additional 318,784 shares in the last quarter. Millennium Management LLC grew its stake in AXIS Capital by 1,644.8% during the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after acquiring an additional 226,956 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of AXIS Capital by 9.0% in the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock worth $182,538,000 after purchasing an additional 213,559 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of AXIS Capital by 12.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after acquiring an additional 157,110 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AXS shares. UBS Group boosted their target price on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $78.00 to $89.00 in a report on Wednesday. Jefferies Financial Group boosted their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen increased their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Bank of America lifted their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and an average target price of $98.71.

AXIS Capital Price Performance

AXIS Capital stock opened at $90.78 on Friday. The firm has a fifty day moving average of $85.13 and a 200-day moving average of $77.90. The firm has a market capitalization of $7.59 billion, a P/E ratio of 12.59, a PEG ratio of 0.31 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 52-week low of $53.49 and a 52-week high of $94.54.

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

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, December 31st. AXIS Capital’s dividend payout ratio is 24.41%.

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.