Aster Capital Management DIFC Ltd Takes $88,000 Position in AXIS Capital Holdings Limited (NYSE:AXS)

Aster Capital Management DIFC Ltd purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 998 shares of the insurance provider’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXS. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital in the 4th quarter valued at about $53,000. Versant Capital Management Inc lifted its holdings in AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC boosted its stake in AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 285 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in AXIS Capital during the 4th quarter worth $60,000. Finally, Assetmark Inc. bought a new stake in shares of AXIS Capital during the 4th quarter valued at $70,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction that occurred 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 sale, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AXS. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Wells Fargo & Company reduced their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, BMO Capital Markets assumed coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

AXIS Capital Price Performance

NYSE AXS opened at $88.49 on Wednesday. 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 stock has a market cap of $7.15 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 3.96 and a beta of 0.67. The business has a 50 day simple moving average of $93.82 and a 200 day simple moving average of $88.75. AXIS Capital Holdings Limited has a 52-week low of $60.45 and a 52-week high of $101.42.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (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%. Analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is 14.25%.

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.