Axis Capital Holdings Limited $AXS Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its stake in Axis Capital Holdings Limited (NYSE:AXS) by 16.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,565 shares of the insurance provider’s stock after selling 10,240 shares during the quarter. Madison Asset Management LLC’s holdings in Axis Capital were worth $4,940,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in Axis Capital during the 3rd quarter valued at about $29,000. Smithfield Trust Co boosted its stake in shares of Axis Capital by 94.0% in the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Axis Capital in the second quarter valued at approximately $37,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Axis Capital in the second quarter valued at approximately $41,000. Finally, Allworth Financial LP increased its stake in Axis Capital by 145.1% during the 2nd quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock worth $60,000 after buying an additional 344 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Down 2.1%

Shares of NYSE AXS opened at $101.45 on Thursday. The business has a 50-day moving average of $104.06 and a two-hundred day moving average of $99.31. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 3.10 and a beta of 0.63. Axis Capital Holdings Limited has a 1 year low of $84.81 and a 1 year high of $110.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.28. Axis Capital had a return on equity of 18.90% and a net margin of 15.37%.The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $3.38 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, analysts forecast that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. Axis Capital’s payout ratio is 14.21%.

Analysts Set New Price Targets

AXS has been the subject of several research reports. Mizuho set a $141.00 price target on shares of Axis Capital in a research note on Monday, February 2nd. Royal Bank Of Canada lifted their target price on Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Roth Mkm reissued a “buy” rating and set a $120.00 target price on shares of Axis Capital in a research note on Thursday, January 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $122.00 price target on shares of Axis Capital in a research report on Friday, January 30th. Finally, Weiss Ratings downgraded Axis Capital from a “buy (a-)” rating to a “buy (b)” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.00.

About Axis Capital

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.