Delphi Management Inc. MA Buys Shares of 10,687 Axis Capital Holdings Limited $AXS

Delphi Management Inc. MA purchased a new position in Axis Capital Holdings Limited (NYSE:AXS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,687 shares of the insurance provider’s stock, valued at approximately $1,084,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Activest Wealth Management bought a new stake in shares of Axis Capital during the 4th quarter valued at $30,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Axis Capital in the 4th quarter worth $47,000. Bartlett & CO. Wealth Management LLC bought a new position in Axis Capital in the 4th quarter worth $51,000. DV Equities LLC bought a new position in Axis Capital in the 4th quarter worth $54,000. Finally, Bayforest Capital Ltd purchased a new position in Axis Capital during the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Insider Activity

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction dated Thursday, May 7th. The stock was 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Axis Capital Trading Up 0.4%

Shares of Axis Capital stock opened at $106.17 on Thursday. The company has a market capitalization of $7.83 billion, a P/E ratio of 7.91, a P/E/G ratio of 3.23 and a beta of 0.51. 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 fifty day moving average of $99.63 and a 200 day moving average of $101.90. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results 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. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.Axis Capital’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.17 EPS. On average, sell-side analysts anticipate that Axis Capital Holdings Limited will post 13.25 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend 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 13.11%.

Wall Street Analyst Weigh In

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

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.