Prudential Financial Inc. Reduces Position in Axis Capital Holdings Ltd. (AXS)
Prudential Financial Inc. lowered its position in shares of Axis Capital Holdings Ltd. (NYSE:AXS) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 179,570 shares of the company’s stock after selling 8,123 shares during the period. Prudential Financial Inc. owned about 0.20% of Axis Capital Holdings worth $9,876,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in Axis Capital Holdings by 1.4% in the first quarter. State Street Corp now owns 2,864,320 shares of the company’s stock worth $158,846,000 after buying an additional 39,216 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Axis Capital Holdings by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,485,771 shares of the company’s stock worth $136,701,000 after buying an additional 206,157 shares in the last quarter. BlackRock Fund Advisors increased its position in Axis Capital Holdings by 11.6% in the first quarter. BlackRock Fund Advisors now owns 1,997,476 shares of the company’s stock worth $110,780,000 after buying an additional 207,052 shares in the last quarter. BlackRock Group LTD increased its position in Axis Capital Holdings by 2.1% in the first quarter. BlackRock Group LTD now owns 997,809 shares of the company’s stock worth $55,340,000 after buying an additional 20,358 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Axis Capital Holdings by 93.5% in the second quarter. UBS Asset Management Americas Inc. now owns 923,239 shares of the company’s stock worth $50,778,000 after buying an additional 445,994 shares in the last quarter. Institutional investors own 90.17% of the company’s stock.
Axis Capital Holdings Ltd. (NYSE:AXS) traded down 0.69% during mid-day trading on Thursday, hitting $54.46. 33,880 shares of the stock were exchanged. The company has a 50-day moving average price of $55.58 and a 200-day moving average price of $54.73. Axis Capital Holdings Ltd. has a one year low of $51.01 and a one year high of $57.98. The company has a market cap of $4.94 billion, a P/E ratio of 9.66 and a beta of 0.73.
Axis Capital Holdings (NYSE:AXS) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.19. Axis Capital Holdings had a net margin of 14.19% and a return on equity of 6.44%. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $983.53 million. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts forecast that Axis Capital Holdings Ltd. will post $3.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a $0.35 dividend. This is a boost from Axis Capital Holdings’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, September 29th. This represents a $1.40 annualized dividend and a dividend yield of 2.55%. Axis Capital Holdings’s dividend payout ratio (DPR) is 25.04%.
AXS has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Zacks Investment Research downgraded shares of Axis Capital Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of Axis Capital Holdings in a research report on Tuesday, June 21st. Eight equities research analysts have rated the stock with a hold rating, Axis Capital Holdings has a consensus rating of “Hold” and a consensus price target of $59.00.
In related news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $56.15, for a total value of $583,960.00. Following the completion of the sale, the executive vice president now owns 15,958 shares in the company, valued at $896,041.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axis Capital Holdings Ltd. (NYSE:AXS).
Receive News & Ratings for Axis Capital Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital Holdings Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.