Thoroughbred Financial Services LLC Raises Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Thoroughbred Financial Services LLC grew its position in AXIS Capital Holdings Limited (NYSE:AXS) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,030 shares of the insurance provider’s stock after buying an additional 371 shares during the period. Thoroughbred Financial Services LLC’s holdings in AXIS Capital were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXS. American Century Companies Inc. grew its position in AXIS Capital by 1.7% in the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after acquiring an additional 53,514 shares during the period. State Street Corp lifted its stake in shares of AXIS Capital by 7.2% in the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after purchasing an additional 112,536 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of AXIS Capital by 1.6% during the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock worth $146,309,000 after purchasing an additional 25,908 shares during the period. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 43,687 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AXIS Capital in the 4th quarter valued at about $88,175,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXS stock opened at $90.68 on Monday. AXIS Capital Holdings Limited has a 1 year low of $60.45 and a 1 year high of $101.42. The firm has a market capitalization of $7.33 billion, a P/E ratio of 7.34, a P/E/G ratio of 3.96 and a beta of 0.67. 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 business’s 50-day moving average is $93.96 and its two-hundred day moving average is $88.61.

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 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%. 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets assumed coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

Insider Buying and Selling at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

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.