Clear Harbor Asset Management LLC Has $7.16 Million Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Clear Harbor Asset Management LLC decreased its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,813 shares of the insurance provider’s stock after selling 2,532 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in AXIS Capital were worth $7,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 121,437 shares during the period. Verition Fund Management LLC bought a new position in shares of AXIS Capital during the third quarter worth $453,000. HighTower Advisors LLC acquired a new position in shares of AXIS Capital in the 3rd quarter valued at $638,000. Entropy Technologies LP bought a new stake in shares of AXIS Capital in the 3rd quarter valued at $507,000. Finally, Jennison Associates LLC lifted its holdings in AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after acquiring an additional 318,784 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AXS shares. Keefe, Bruyette & Woods lifted their price objective on AXIS Capital from $108.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, January 10th. UBS Group increased their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Jefferies Financial Group upped their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.25.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $90.19 on Tuesday. AXIS Capital Holdings Limited has a fifty-two week low of $54.31 and a fifty-two week high of $94.89. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.29 and a beta of 0.95. 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 business has a 50-day moving average of $89.43 and a 200-day moving average of $81.43.

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, 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 analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, sell-side analysts predict that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

AXIS Capital 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.