LSV Asset Management reduced its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,026,223 shares of the insurance provider’s stock after selling 117,300 shares during the period. LSV Asset Management owned about 2.43% of Axis Capital worth $112,698,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of AXS. SG Americas Securities LLC bought a new position in Axis Capital in the first quarter valued at approximately $722,000. Commerce Bank bought a new position in Axis Capital in the first quarter valued at approximately $201,000. Aviance Capital Partners LLC boosted its stake in Axis Capital by 6.2% in the first quarter. Aviance Capital Partners LLC now owns 24,774 shares of the insurance provider’s stock valued at $1,426,000 after acquiring an additional 1,453 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in Axis Capital by 41.5% in the first quarter. Donald Smith & CO. Inc. now owns 1,963,688 shares of the insurance provider’s stock valued at $113,050,000 after acquiring an additional 575,545 shares during the last quarter. Finally, Boston Partners boosted its stake in Axis Capital by 239.4% in the first quarter. Boston Partners now owns 392,430 shares of the insurance provider’s stock valued at $22,592,000 after acquiring an additional 276,820 shares during the last quarter. 92.81% of the stock is currently owned by institutional investors.
AXS opened at $56.15 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -17.83, a PEG ratio of 1.34 and a beta of 0.42. Axis Capital Holdings Limited has a twelve month low of $47.43 and a twelve month high of $64.06.
Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, July 25th. The insurance provider reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.23 billion. Axis Capital had a negative net margin of 6.16% and a negative return on equity of 3.63%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. research analysts predict that Axis Capital Holdings Limited will post 4.77 earnings per share for the current year.
A number of equities analysts have issued reports on AXS shares. Wells Fargo & Co reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Axis Capital in a research note on Thursday, May 24th. Goldman Sachs Group started coverage on shares of Axis Capital in a research note on Monday, June 18th. They issued a “neutral” rating and a $60.00 price objective on the stock. Zacks Investment Research cut shares of Axis Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Morgan Stanley raised their price objective on shares of Axis Capital from $61.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 1st. Finally, Citigroup raised their price objective on shares of Axis Capital from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, May 4th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.20.
In other Axis Capital news, EVP Conrad D. Brooks sold 2,601 shares of the stock in a transaction on Monday, June 4th. The shares were sold at an average price of $57.18, for a total value of $148,725.18. Following the sale, the executive vice president now directly owns 14,103 shares in the company, valued at $806,409.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
Axis Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.
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