Tidal Investments LLC Takes $1 Million Position in AXIS Capital Holdings Limited (NYSE:AXS)

Tidal Investments LLC purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,656 shares of the insurance provider’s stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in shares of AXIS Capital in the third quarter worth about $453,000. Entropy Technologies LP acquired a new stake in shares of AXIS Capital in the third quarter valued at approximately $507,000. Jennison Associates LLC raised its position in AXIS Capital by 24.4% in the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after purchasing an additional 318,784 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in AXIS Capital during the 3rd quarter worth $4,249,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in AXIS Capital by 8.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 300,726 shares of the insurance provider’s stock worth $23,941,000 after buying an additional 23,377 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXIS Capital stock opened at $87.61 on Friday. The firm has a market capitalization of $7.33 billion, a P/E ratio of 12.15, a PEG ratio of 0.31 and a beta of 0.94. The business has a 50-day moving average of $86.14 and a 200-day moving average of $78.53. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 1 year low of $53.49 and a 1 year high of $94.89.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same quarter in the previous year, the company earned $2.34 earnings per share. On average, equities analysts anticipate that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, December 31st. AXIS Capital’s dividend payout ratio is currently 24.41%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AXS shares. TD Cowen boosted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their price objective on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group raised their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group lifted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America increased their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus target price of $98.71.

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.