Wedge Capital Management L L P NC Has $9.61 Million Stake in Axis Capital Holdings Limited $AXS

Wedge Capital Management L L P NC reduced its stake in Axis Capital Holdings Limited (NYSE:AXS) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,731 shares of the insurance provider’s stock after selling 7,849 shares during the period. Wedge Capital Management L L P NC’s holdings in Axis Capital were worth $9,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Johnson Investment Counsel Inc. raised its holdings in Axis Capital by 0.5% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,222,932 shares of the insurance provider’s stock valued at $117,157,000 after acquiring an additional 6,571 shares in the last quarter. Synergy Asset Management LLC grew its holdings in shares of Axis Capital by 63.2% during the 3rd quarter. Synergy Asset Management LLC now owns 352,050 shares of the insurance provider’s stock worth $33,726,000 after purchasing an additional 136,313 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Axis Capital by 30.3% in the third quarter. Allianz Asset Management GmbH now owns 970,411 shares of the insurance provider’s stock worth $92,965,000 after purchasing an additional 225,569 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Axis Capital in the third quarter worth $1,118,000. Finally, New York State Common Retirement Fund raised its stake in Axis Capital by 22.8% in the third quarter. New York State Common Retirement Fund now owns 110,364 shares of the insurance provider’s stock valued at $10,573,000 after purchasing an additional 20,484 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Down 2.4%

NYSE:AXS opened at $98.86 on Friday. Axis Capital Holdings Limited has a one year low of $84.81 and a one year high of $110.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $7.31 billion, a PE ratio of 7.98, a P/E/G ratio of 1.96 and a beta of 0.61. The firm’s 50 day simple moving average is $102.74 and its 200 day simple moving average is $100.53.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.28. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.38 earnings per share. On average, research analysts anticipate that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given 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 of this dividend is Tuesday, March 31st. Axis Capital’s dividend payout ratio is currently 14.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $110.00 price objective on shares of Axis Capital in a research note on Wednesday, January 7th. Mizuho set a $141.00 target price on shares of Axis Capital in a research report on Monday, February 2nd. Roth Mkm reaffirmed a “buy” rating and set a $120.00 price target on shares of Axis Capital in a report on Thursday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Bank of America decreased their price objective on shares of Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.00.

Axis Capital 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.