Principal Financial Group Inc. Sells 830 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Principal Financial Group Inc. decreased its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,948 shares of the insurance provider’s stock after selling 830 shares during the period. Principal Financial Group Inc.’s holdings in AXIS Capital were worth $394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of AXIS Capital by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after buying an additional 226 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. increased its holdings in AXIS Capital by 424.6% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 985 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in AXIS Capital in the 1st quarter valued at about $201,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $88.75 on Monday. 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 has a market cap of $7.42 billion, a PE ratio of 12.31, a PEG ratio of 0.30 and a beta of 0.90. The company’s fifty day moving average is $81.47 and its 200 day moving average is $75.91. AXIS Capital Holdings Limited has a 52 week low of $53.49 and a 52 week high of $89.31.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same period last year, the company earned $2.34 EPS. Research analysts anticipate that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is 24.41%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group lifted their target price on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen began coverage on shares of AXIS Capital in a research note on Friday, October 4th. They set a “buy” rating and a $118.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America boosted their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group increased their price objective on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.86.

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.