Renaissance Technologies LLC trimmed its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 676,350 shares of the insurance provider’s stock after selling 62,950 shares during the period. Renaissance Technologies LLC’s holdings in Axis Capital were worth $37,619,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bridgewater Associates LP raised its holdings in shares of Axis Capital by 230.1% during the second quarter. Bridgewater Associates LP now owns 14,649 shares of the insurance provider’s stock worth $815,000 after acquiring an additional 10,211 shares during the period. BlueMountain Capital Management LLC acquired a new stake in shares of Axis Capital during the second quarter worth $3,841,000. Korea Investment CORP acquired a new stake in shares of Axis Capital during the second quarter worth $962,000. Commonwealth Bank of Australia raised its holdings in shares of Axis Capital by 12.0% during the second quarter. Commonwealth Bank of Australia now owns 25,181 shares of the insurance provider’s stock worth $1,396,000 after acquiring an additional 2,700 shares during the period. Finally, Federated Investors Inc. PA raised its holdings in shares of Axis Capital by 73.2% during the second quarter. Federated Investors Inc. PA now owns 132,839 shares of the insurance provider’s stock worth $7,388,000 after acquiring an additional 56,154 shares during the period. Institutional investors and hedge funds own 89.45% of the company’s stock.

Shares of AXS stock opened at $57.26 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Axis Capital Holdings Limited has a 1 year low of $47.43 and a 1 year high of $60.69. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -18.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.42.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, July 25th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. Axis Capital had a negative net margin of 6.16% and a negative return on equity of 3.63%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $1.31 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. research analysts expect that Axis Capital Holdings Limited will post 4.77 EPS for the current year.

A number of equities research analysts recently commented on AXS shares. Wells Fargo & Co restated a “hold” rating and set a $56.00 price objective on shares of Axis Capital in a report on Thursday, May 24th. Goldman Sachs Group began coverage on shares of Axis Capital in a research note on Monday, June 18th. They issued a “neutral” rating and a $60.00 price target on the stock. Zacks Investment Research lowered shares of Axis Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. TheStreet lowered shares of Axis Capital from a “b-” rating to a “c” rating in a research note on Thursday, June 21st. Finally, Citigroup lifted their price target on shares of Axis Capital from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 2nd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $61.56.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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