KLP Kapitalforvaltning AS Acquires New Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

KLP Kapitalforvaltning AS bought a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the fourth quarter, Holdings Channel.com reports. The firm bought 27,400 shares of the insurance provider’s stock, valued at approximately $2,440,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in shares of AXIS Capital during the third quarter valued at about $40,000. Steward Partners Investment Advisory LLC acquired a new position in AXIS Capital during the 4th quarter valued at about $53,000. Versant Capital Management Inc raised its position in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital in the fourth quarter valued at approximately $60,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

NYSE AXS opened at $99.72 on Friday. 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 $60.45 and a 1 year high of $100.78. The company has a market cap of $8.06 billion, a PE ratio of 8.07, a PEG ratio of 3.96 and a beta of 0.91. The stock’s 50-day moving average price is $92.81 and its two-hundred day moving average price is $87.59.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating 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 predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXS. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. BMO Capital Markets began coverage on 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. Wells Fargo & Company decreased their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Finally, StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and an average price target of $100.25.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate 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.