Corient Private Wealth LLC Boosts Position in AXIS Capital Holdings Limited (NYSE:AXS)

Corient Private Wealth LLC increased its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,974 shares of the insurance provider’s stock after buying an additional 17,460 shares during the period. Corient Private Wealth LLC owned 0.06% of AXIS Capital worth $4,429,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in AXIS Capital by 48.6% in the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after buying an additional 121,437 shares during the period. HighTower Advisors LLC purchased a new position in AXIS Capital in the 3rd quarter worth about $638,000. Verition Fund Management LLC bought a new position in AXIS Capital during the 3rd quarter worth about $453,000. Geode Capital Management LLC grew its holdings in AXIS Capital by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after acquiring an additional 43,687 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new position in AXIS Capital during the 4th quarter worth about $300,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Down 0.0 %

NYSE:AXS opened at $95.00 on Friday. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $98.11. The stock has a market capitalization of $7.67 billion, a P/E ratio of 7.69, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company’s 50-day simple moving average is $91.93 and its 200-day simple moving average is $87.00.

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

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

AXS has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, TD Cowen increased their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.25.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

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.