AXIS Capital Holdings Limited (NYSE:AXS) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,929 shares of the insurance provider’s stock after purchasing an additional 24,891 shares during the period. Bank of New York Mellon Corp owned 0.37% of AXIS Capital worth $27,111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance raised its stake in shares of AXIS Capital by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after purchasing an additional 125 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 127 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 137 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of AXIS Capital by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after purchasing an additional 170 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Stock Performance

AXS opened at $92.01 on Friday. The firm has a market capitalization of $7.43 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The stock’s 50 day moving average price is $90.83 and its two-hundred day moving average price is $85.89. 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 12-month low of $60.45 and a 12-month high of $98.11.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given 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 dividend yield of 1.91%. AXIS Capital’s dividend payout ratio is currently 14.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective on the stock. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AXIS Capital presently has a consensus rating of “Moderate Buy” and an average target price of $99.88.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.