Madison Asset Management LLC Sells 8,684 Shares of Axis Capital Holdings Limited $AXS

Madison Asset Management LLC trimmed its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 16.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 42,881 shares of the insurance provider’s stock after selling 8,684 shares during the quarter. Madison Asset Management LLC’s holdings in Axis Capital were worth $4,592,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AXS. Root Financial Partners LLC bought a new position in shares of Axis Capital in the third quarter valued at $29,000. Activest Wealth Management bought a new position in shares of Axis Capital during the fourth quarter valued at about $30,000. Abich Financial Wealth Management LLC bought a new position in shares of Axis Capital during the third quarter valued at about $43,000. Bartlett & CO. Wealth Management LLC purchased a new position in Axis Capital during the fourth quarter worth about $51,000. Finally, Bayforest Capital Ltd purchased a new position in Axis Capital during the fourth quarter worth about $55,000. 93.44% of the stock is owned by institutional investors.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the sale, the director owned 46,347 shares in the company, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Axis Capital Stock Performance

NYSE AXS opened at $97.25 on Thursday. Axis Capital Holdings Limited has a 52-week low of $88.07 and a 52-week high of $110.34. The company has a 50-day simple moving average of $100.71 and a 200 day simple moving average of $101.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $7.17 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company posted $3.17 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Axis Capital Holdings Limited will post 13.2 EPS for the current year.

Axis Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is 13.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXS. Weiss Ratings lowered shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating on shares of Axis Capital in a research note on Monday, February 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $120.00 target price on shares of Axis Capital in a report on Thursday, January 29th. Mizuho set a $137.00 price target on Axis Capital in a research report on Monday, May 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $122.00 price target on shares of Axis Capital in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.10.

Axis Capital Company Profile

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.