Charles A. Davis Sells 2,139,037 Shares of AXIS Capital Holdings Limited (NYSE:AXS) Stock

AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis sold 2,139,037 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AXIS Capital Trading Down 0.5 %

Shares of NYSE AXS opened at $94.75 on Thursday. 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 has a market capitalization of $7.65 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95. AXIS Capital Holdings Limited has a 1-year low of $60.06 and a 1-year high of $98.11. The business has a fifty day moving average price of $90.63 and a 200 day moving average price of $85.66.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Equities research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AXS. Raymond James Financial Inc. acquired a new position in AXIS Capital during the 4th quarter valued at about $88,175,000. Norges Bank acquired a new position in AXIS Capital during the 4th quarter valued at about $88,147,000. FIL Ltd acquired a new position in AXIS Capital during the 4th quarter valued at about $43,893,000. Massachusetts Financial Services Co. MA acquired a new position in AXIS Capital during the 4th quarter valued at about $37,775,000. Finally, Swedbank AB acquired a new position in AXIS Capital during the 4th quarter valued at about $31,118,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXS has been the subject of a number of recent analyst reports. 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 price objective for the company. TD Cowen boosted their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their target price on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.