AXIS Capital Holdings Limited (NYSE:AXS) Stock Position Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 41.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,013 shares of the insurance provider’s stock after buying an additional 91,527 shares during the quarter. Point72 Asset Management L.P. owned about 0.37% of AXIS Capital worth $24,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXS. Independent Advisor Alliance increased its stake in shares of AXIS Capital by 0.4% during the third quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock valued at $2,591,000 after acquiring an additional 125 shares during the period. Pathstone Holdings LLC increased its position in shares of AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock valued at $2,542,000 after purchasing an additional 127 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake 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 buying an additional 148 shares in the last quarter. Gries Financial LLC lifted its holdings in shares of AXIS Capital by 4.9% in the second 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 period. Finally, The Manufacturers Life Insurance Company boosted its stake in AXIS Capital by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock valued at $1,226,000 after buying an additional 170 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen boosted their price target 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. Keefe, Bruyette & Woods boosted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America increased their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, AXIS Capital presently has an average rating of “Moderate Buy” and a consensus target price of $97.14.

AXIS Capital Stock Up 1.1 %

AXS stock opened at $94.05 on Friday. 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 firm has a market capitalization of $7.87 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.32 and a beta of 0.94. AXIS Capital Holdings Limited has a 52-week low of $53.49 and a 52-week high of $94.54. The company’s 50 day simple moving average is $84.01 and its 200-day simple moving average is $77.24.

AXIS Capital (NYSE:AXS) last released its earnings results 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 company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. As a group, equities research analysts anticipate that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 24.41%.

About AXIS Capital

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.