Principal Financial Group Inc. Cuts Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Principal Financial Group Inc. reduced its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 14.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,948 shares of the insurance provider’s stock after selling 830 shares during the quarter. Principal Financial Group Inc.’s holdings in AXIS Capital were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the 3rd quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. increased its stake in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. raised its position in AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 985 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in AXIS Capital during the third quarter worth about $99,000. Finally, GAMMA Investing LLC boosted its holdings in shares of AXIS Capital by 158.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 801 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXS. TD Cowen lifted their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upgraded AXIS Capital from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, December 11th. Finally, Bank of America increased their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.71.

AXIS Capital Price Performance

Shares of AXS opened at $88.73 on Monday. AXIS Capital Holdings Limited has a twelve month low of $53.88 and a twelve month high of $94.89. The company has a market capitalization of $7.42 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.31 and a beta of 0.95. The firm has a 50 day moving average of $87.90 and a 200 day moving average of $80.01. 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 (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same quarter in the previous year, the firm posted $2.34 EPS. As a group, equities research analysts anticipate that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, December 31st. AXIS Capital’s payout ratio is 24.41%.

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.