Summit Trail Advisors LLC Buys New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Summit Trail Advisors LLC bought a new position in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, Holdings Channel reports. The firm bought 3,369 shares of the insurance provider’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXS. True Wealth Design LLC purchased a new position in shares of AXIS Capital in the 3rd quarter valued at about $40,000. Versant Capital Management Inc lifted its stake in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 130 shares in the last quarter. R Squared Ltd acquired a new stake in AXIS Capital in the 4th quarter worth about $82,000. Blue Trust Inc. increased its stake in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after buying an additional 985 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of AXIS Capital in the third quarter valued at approximately $99,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares of the company’s stock, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

AXIS Capital Stock Down 1.0 %

Shares of NYSE AXS opened at $89.50 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $89.88 and its two-hundred day moving average is $83.64. AXIS Capital Holdings Limited has a 52-week low of $59.53 and a 52-week high of $94.89. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 4.01 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Research analysts predict that AXIS Capital Holdings Limited will post 11.36 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AXS. BMO Capital Markets initiated coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. TD Cowen upped their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. UBS Group lifted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods lifted their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AXIS Capital has a consensus rating of “Moderate Buy” and an average target price of $99.88.

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.