Millennium Management LLC Boosts Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Millennium Management LLC boosted its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 1,644.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 240,754 shares of the insurance provider’s stock after purchasing an additional 226,956 shares during the quarter. Millennium Management LLC owned about 0.28% of AXIS Capital worth $17,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AXS. Versant Capital Management Inc grew its holdings in shares of AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. GAMMA Investing LLC lifted its position in AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares in the last quarter. Covestor Ltd boosted its stake in AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 185 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of AXIS Capital in the first quarter worth $201,000. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $82.17 on Friday. The firm’s 50 day moving average price is $76.81 and its 200-day moving average price is $71.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $6.96 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. AXIS Capital Holdings Limited has a twelve month low of $52.90 and a twelve month high of $82.33.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.41. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $2.23 earnings per share. Equities research analysts expect that AXIS Capital Holdings Limited will post 10.71 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Monday, September 30th. AXIS Capital’s payout ratio is 26.91%.

Analysts Set New Price Targets

Several research firms recently commented on AXS. Roth Mkm increased their price objective on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen began coverage on shares of AXIS Capital in a report on Friday. They set a “buy” rating and a $118.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a report on Monday, August 12th. UBS Group raised their target price on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.86.

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.