Y Intercept Hong Kong Ltd Makes New $246,000 Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Y Intercept Hong Kong Ltd bought a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,779 shares of the insurance provider’s stock, valued at approximately $246,000.

Several other large investors have also modified their holdings of AXS. True Wealth Design LLC purchased a new stake in AXIS Capital in the 3rd quarter valued at about $40,000. Versant Capital Management Inc increased its position in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 130 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of AXIS Capital by 28.5% in the 4th quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 185 shares during the period. R Squared Ltd acquired a new position in shares of AXIS Capital in the 4th quarter worth approximately $82,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of AXIS Capital during the 3rd quarter worth approximately $99,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. TD Cowen increased their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets started coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Finally, StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.88.

AXIS Capital Stock Down 2.5 %

AXS stock opened at $95.18 on Wednesday. The company’s 50 day moving average price is $90.53 and its 200 day moving average price is $85.52. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 3.96 and a beta of 0.95. AXIS Capital Holdings Limited has a fifty-two week low of $60.06 and a fifty-two week high of $98.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

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

AXIS Capital Announces Dividend

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

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now owns 4,543,170 shares in the company, valued at $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

About AXIS Capital

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.