JPMorgan Chase & Co. Cuts Position in Axis Capital Holdings Ltd. (AXS)
JPMorgan Chase & Co. lowered its position in shares of Axis Capital Holdings Ltd. (NYSE:AXS) by 17.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 477,934 shares of the company’s stock after selling 104,342 shares during the period. JPMorgan Chase & Co. owned approximately 0.53% of Axis Capital Holdings worth $26,286,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Axis Capital Holdings during the fourth quarter worth approximately $72,203,000. Emerald Acquisition Ltd. acquired a new stake in shares of Axis Capital Holdings during the second quarter worth approximately $38,074,000. Renaissance Technologies LLC boosted its stake in shares of Axis Capital Holdings by 283.1% in the first quarter. Renaissance Technologies LLC now owns 771,876 shares of the company’s stock worth $42,808,000 after buying an additional 570,376 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Axis Capital Holdings during the second quarter worth approximately $30,128,000. Finally, Swiss National Bank boosted its stake in shares of Axis Capital Holdings by 174.3% in the second quarter. Swiss National Bank now owns 686,946 shares of the company’s stock worth $37,782,000 after buying an additional 436,500 shares in the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.
Shares of Axis Capital Holdings Ltd. (NYSE:AXS) traded up 0.22% during trading on Thursday, hitting $55.85. 101,404 shares of the company were exchanged. The firm’s 50-day moving average price is $55.91 and its 200 day moving average price is $54.72. The firm has a market capitalization of $5.06 billion, a PE ratio of 9.91 and a beta of 0.78. Axis Capital Holdings Ltd. has a 12 month low of $51.01 and a 12 month high of $57.98.
Axis Capital Holdings (NYSE:AXS) last released its earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. The company earned $1.06 billion during the quarter, compared to analysts’ expectations of $983.53 million. Axis Capital Holdings had a net margin of 14.19% and a return on equity of 6.44%. Axis Capital Holdings’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. On average, equities research analysts expect that Axis Capital Holdings Ltd. will post $3.60 earnings per share for the current fiscal year.
AXS has been the subject of a number of research reports. Zacks Investment Research raised shares of Axis Capital Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Langen Mcalenn cut shares of Axis Capital Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, May 26th. Janney Montgomery Scott cut shares of Axis Capital Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, May 26th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Axis Capital Holdings in a report on Tuesday, June 21st. Finally, Morgan Stanley upped their price target on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Eight research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $59.00.
In other Axis Capital Holdings news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $56.15, for a total transaction of $583,960.00. Following the completion of the transaction, the executive vice president now directly owns 15,958 shares of the company’s stock, valued at approximately $896,041.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.
Axis Capital Holdings Company Profile
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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