AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC reduced its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,000 shares of the insurance provider’s stock after selling 11,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.27% of AXIS Capital worth $17,673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of AXIS Capital during the 3rd quarter valued at $40,000. GAMMA Investing LLC grew its holdings in shares of AXIS Capital by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 985 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. UBS Group upped their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Bank of America increased their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.14.

AXIS Capital Price Performance

NYSE:AXS opened at $93.04 on Monday. 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 Holdings Limited has a 12-month low of $53.49 and a 12-month high of $94.39. The stock’s 50 day moving average price is $82.84 and its two-hundred day moving average price is $76.69. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.31 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.55 by $0.16. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same period in the previous year, the company earned $2.34 earnings per share. On average, analysts anticipate that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is 24.41%.

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.