Custom Index Systems LLC Raises Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Custom Index Systems LLC lifted its position in AXIS Capital Holdings Limited (NYSE:AXS) by 71.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,696 shares of the insurance provider’s stock after purchasing an additional 6,120 shares during the period. Custom Index Systems LLC’s holdings in AXIS Capital were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oak Thistle LLC purchased a new stake in shares of AXIS Capital during the first quarter worth about $218,000. Measured Wealth Private Client Group LLC raised its position in shares of AXIS Capital by 8.1% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,519 shares of the insurance provider’s stock valued at $294,000 after buying an additional 337 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of AXIS Capital by 6.5% in the first quarter. Wasatch Advisors LP now owns 1,054,329 shares of the insurance provider’s stock worth $68,552,000 after buying an additional 64,640 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AXIS Capital by 32.5% in the first quarter. Principal Financial Group Inc. now owns 6,473 shares of the insurance provider’s stock worth $421,000 after buying an additional 1,587 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of AXIS Capital in the first quarter worth $669,000. 93.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on AXS shares. TD Cowen assumed coverage on shares of AXIS Capital in a research note on Friday, October 4th. They issued a “buy” rating and a $118.00 price target on the stock. Bank of America lifted their target price on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Roth Mkm increased their price target on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group upped their price objective on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AXIS Capital currently has a consensus rating of “Moderate Buy” and an average target price of $92.86.

AXIS Capital Trading Down 1.8 %

Shares of NYSE:AXS traded down $1.43 during trading on Friday, hitting $79.74. The company had a trading volume of 639,140 shares, compared to its average volume of 577,918. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The company has a fifty day simple moving average of $79.01 and a two-hundred day simple moving average of $72.99. AXIS Capital Holdings Limited has a one year low of $52.90 and a one year high of $83.19.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. During the same period in the prior year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that AXIS Capital Holdings Limited will post 10.72 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 26.91%.

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.