Cozad Asset Management Inc. Invests $623,000 in AXIS Capital Holdings Limited (NYSE:AXS)

Cozad Asset Management Inc. acquired a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,025 shares of the insurance provider’s stock, valued at approximately $623,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXS. True Wealth Design LLC bought a new stake in AXIS Capital during the third quarter worth about $40,000. Steward Partners Investment Advisory LLC bought a new stake in AXIS Capital in the 4th quarter worth approximately $53,000. Versant Capital Management Inc grew its position in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of AXIS Capital in the 4th quarter worth approximately $60,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on AXS. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. 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 for the company. TD Cowen lifted their price target on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AXIS Capital presently has an average rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Stock Performance

Shares of AXS stock opened at $95.61 on Tuesday. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 3.96 and a beta of 0.91. The stock has a fifty day moving average of $91.32 and a 200 day moving average of $86.68. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $98.11. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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%. As a group, research analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.84%. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Insider Transactions at AXIS Capital

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

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.