Merit Financial Group LLC Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Merit Financial Group LLC bought a new stake in AXIS Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,199 shares of the insurance provider’s stock, valued at approximately $549,000.

Several other hedge funds have also made changes to their positions in AXS. Jennison Associates LLC raised its stake in 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 acquiring an additional 318,784 shares during the last quarter. Millennium Management LLC increased its holdings in shares of AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after purchasing an additional 226,956 shares during the period. AQR Capital Management LLC raised its stake in shares of AXIS Capital by 9.0% during the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock worth $182,538,000 after purchasing an additional 213,559 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AXIS Capital by 131.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider’s stock worth $20,265,000 after purchasing an additional 144,792 shares during the period. Finally, Franklin Resources Inc. grew its position in AXIS Capital by 48.6% in 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. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXS stock opened at $87.49 on Friday. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.29 and a beta of 0.95. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $89.62 and a 200-day moving average of $81.62. AXIS Capital Holdings Limited has a 12-month low of $55.56 and a 12-month high of $94.89.

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

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.44 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 2.01%. AXIS Capital’s payout ratio is 24.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AXS shares. TD Cowen upped their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BMO Capital Markets assumed coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Wells Fargo & Company cut their target price 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. Finally, Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.25.

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.