Summit Global Investments Sells 2,050 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Summit Global Investments lessened its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,157 shares of the insurance provider’s stock after selling 2,050 shares during the period. Summit Global Investments’ holdings in AXIS Capital were worth $1,286,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in AXS. Point72 Asia Singapore Pte. Ltd. lifted its holdings in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares during the period. Versant Capital Management Inc grew its holdings in AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Gries Financial LLC raised its position in AXIS Capital by 4.9% in the 2nd quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after buying an additional 166 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in AXIS Capital by 3.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 172 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its holdings in AXIS Capital by 3.8% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,971 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Bank of America lifted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen initiated coverage on AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. Finally, UBS Group upped their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.86.

AXIS Capital Stock Performance

Shares of AXS opened at $84.49 on Friday. AXIS Capital Holdings Limited has a 1 year low of $53.14 and a 1 year high of $84.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s fifty day moving average price is $79.78 and its two-hundred day moving average price is $74.23. The firm has a market cap of $7.07 billion, a PE ratio of 11.72, a PEG ratio of 0.27 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the business posted $2.34 EPS. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

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.