Axis Capital Holdings Limited $AXS Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. boosted its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 49.6% during the 4th quarter, HoldingsChannel reports. The firm owned 500,401 shares of the insurance provider’s stock after purchasing an additional 165,946 shares during the period. Panagora Asset Management Inc.’s holdings in Axis Capital were worth $53,588,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management purchased a new stake in shares of Axis Capital in the fourth quarter valued at about $30,000. Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital during the third quarter worth about $43,000. Fideuram Asset Management Ireland dac acquired a new position in Axis Capital in the 4th quarter valued at about $47,000. Bartlett & CO. Wealth Management LLC acquired a new position in Axis Capital in the 4th quarter valued at about $51,000. Finally, Bayforest Capital Ltd purchased a new stake in Axis Capital during the 4th quarter valued at approximately $55,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Up 0.0%

Shares of NYSE AXS opened at $101.47 on Monday. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. Axis Capital Holdings Limited has a 52 week low of $88.07 and a 52 week high of $110.34. The firm has a 50-day moving average price of $99.32 and a 200 day moving average price of $101.79. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Axis Capital Holdings Limited will post 13.25 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital’s dividend payout ratio is currently 13.11%.

Analysts Set New Price Targets

Several research analysts have weighed in on AXS shares. Mizuho set a $137.00 target price on Axis Capital in a research note on Monday, May 4th. Keefe, Bruyette & Woods cut their price target on Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings downgraded Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Wells Fargo & Company lowered their price objective on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Bank of America dropped their price objective on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Axis Capital presently has an average rating of “Moderate Buy” and an average price target of $122.10.

Insider Buying and Selling at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.