CIBC Asset Management Inc Boosts Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

CIBC Asset Management Inc boosted its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,799 shares of the insurance provider’s stock after purchasing an additional 137 shares during the period. CIBC Asset Management Inc’s holdings in AXIS Capital were worth $248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after buying an additional 121,437 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of AXIS Capital during the 3rd quarter valued at $638,000. Verition Fund Management LLC purchased a new position in shares of AXIS Capital during the 3rd quarter valued at $453,000. Entropy Technologies LP purchased a new position in shares of AXIS Capital during the 3rd quarter valued at $507,000. Finally, Jennison Associates LLC lifted its position in shares of AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after buying an additional 318,784 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the transaction, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $95.00 on Wednesday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 7.69, a P/E/G ratio of 3.96 and a beta of 0.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $89.95 and its two-hundred day simple moving average is $84.89. AXIS Capital Holdings Limited has a twelve month low of $60.06 and a twelve month high of $95.58.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, equities analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.85%. AXIS Capital’s dividend payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AXS. Wells Fargo & Company dropped their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. UBS Group boosted their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective on the stock. TD Cowen boosted their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.88.

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.