Michael A. Butt Sells 40,673 Shares of Axis Capital Holdings Ltd. (AXS) Stock
Axis Capital Holdings Ltd. (NYSE:AXS) Director Michael A. Butt sold 40,673 shares of the company’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the sale, the director now directly owns 1,161,675 shares in the company, valued at $66,227,091.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Axis Capital Holdings Ltd. (NYSE:AXS) opened at 56.72 on Wednesday. Axis Capital Holdings Ltd. has a 52 week low of $51.01 and a 52 week high of $57.98. The company has a market capitalization of $5.14 billion, a PE ratio of 10.06 and a beta of 0.73. The company has a 50-day moving average price of $55.68 and a 200-day moving average price of $54.81.
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. Axis Capital Holdings had a return on equity of 6.44% and a net margin of 14.19%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $983.53 million. During the same period in the prior year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts predict that Axis Capital Holdings Ltd. will post $3.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were paid a $0.35 dividend. This is a boost from Axis Capital Holdings’s previous quarterly dividend of $0.29. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, September 29th. Axis Capital Holdings’s dividend payout ratio is currently 25.04%.
Large investors have recently added to or reduced their stakes in the company. First Interstate Bank bought a new stake in Axis Capital Holdings during the second quarter worth approximately $110,000. Assetmark Inc. bought a new stake in Axis Capital Holdings during the second quarter worth approximately $111,000. MU Investments Co. Ltd. bought a new stake in Axis Capital Holdings during the second quarter worth approximately $119,000. Daiwa SB Investments Ltd. boosted its stake in Axis Capital Holdings by 8.3% in the second quarter. Daiwa SB Investments Ltd. now owns 3,260 shares of the company’s stock worth $172,000 after buying an additional 250 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Axis Capital Holdings by 0.6% in the second quarter. Synovus Financial Corp now owns 4,314 shares of the company’s stock worth $241,000 after buying an additional 26 shares in the last quarter. 90.16% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on AXS shares. Zacks Investment Research raised shares of Axis Capital Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Axis Capital Holdings in a research 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 investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $59.00.
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.
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.