Axis Capital Holdings Limited $AXS Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 22.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,364 shares of the insurance provider’s stock after purchasing an additional 20,484 shares during the period. New York State Common Retirement Fund owned 0.14% of Axis Capital worth $10,573,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Axis Capital during the second quarter worth about $100,683,000. Altrinsic Global Advisors LLC grew its holdings in shares of Axis Capital by 47.7% during the second quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock valued at $188,662,000 after purchasing an additional 586,576 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Axis Capital during the 2nd quarter worth approximately $55,025,000. Allianz Asset Management GmbH lifted its holdings in shares of Axis Capital by 174.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 744,842 shares of the insurance provider’s stock worth $77,329,000 after purchasing an additional 473,608 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Axis Capital by 12.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,716,201 shares of the insurance provider’s stock valued at $383,698,000 after purchasing an additional 425,790 shares during the period. 93.44% of the stock is currently owned by institutional investors.

Axis Capital Stock Up 1.0%

Axis Capital stock opened at $104.88 on Wednesday. Axis Capital Holdings Limited has a 52 week low of $84.81 and a 52 week high of $110.34. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 3.11 and a beta of 0.63. The company’s 50-day moving average price is $103.71 and its two-hundred day moving average price is $98.99. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.90%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the business earned $3.38 earnings per share. On average, analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.7%. Axis Capital’s dividend payout ratio (DPR) is currently 14.21%.

Wall Street Analysts Forecast Growth

AXS has been the topic of several analyst reports. Mizuho set a $141.00 target price on Axis Capital in a research report on Monday. Compass Point set a $121.00 price objective on shares of Axis Capital in a report on Monday, November 24th. Bank of America cut 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 report on Thursday, January 29th. Jefferies Financial Group restated a “buy” rating and issued a $122.00 target price on shares of Axis Capital in a research report on Friday. Finally, UBS Group reaffirmed a “buy” rating on shares of Axis Capital in a report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

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.