Hillsdale Investment Management Inc. Takes Position in AXIS Capital Holdings Limited (NYSE:AXS)

Hillsdale Investment Management Inc. purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,600 shares of the insurance provider’s stock, valued at approximately $851,000.

A number of other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of 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 valued at $281,680,000 after purchasing an additional 53,514 shares during the period. State Street Corp raised its position in shares of AXIS Capital by 7.2% in the third 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 period. Jennison Associates LLC raised its position in shares of AXIS Capital by 1.6% in the fourth quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock valued at $146,309,000 after purchasing an additional 25,908 shares during the period. Geode Capital Management LLC raised its position in shares of AXIS Capital by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock valued at $100,921,000 after purchasing an additional 43,687 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of AXIS Capital in the fourth quarter valued at approximately $88,175,000. Institutional investors own 93.44% of the company’s stock.

Insider Activity

In other news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

AXIS Capital Stock Down 0.0 %

AXS opened at $95.00 on Monday. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $98.11. 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 firm’s fifty day moving average price is $91.93 and its two-hundred day moving average price is $87.12. The company has a market capitalization of $7.67 billion, a P/E ratio of 7.69, a P/E/G ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share 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%. On average, analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. AXIS Capital’s dividend payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, March 13th. Finally, TD Cowen raised their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, AXIS Capital has a consensus rating of “Moderate Buy” and an average target price of $100.25.

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.