Franklin Resources Inc. Reduces Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Franklin Resources Inc. lessened its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 3.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 357,135 shares of the insurance provider’s stock after selling 14,422 shares during the quarter. Franklin Resources Inc.’s holdings in AXIS Capital were worth $31,649,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital during the fourth quarter worth about $53,000. Versant Capital Management Inc increased its holdings in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 285 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in AXIS Capital in the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. acquired a new position in AXIS Capital during the fourth quarter worth $70,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXS stock opened at $90.68 on Friday. The company has a market cap of $7.33 billion, a P/E ratio of 7.34, a PEG ratio of 3.96 and a beta of 0.67. The firm has a fifty day moving average price of $93.96 and a 200 day moving average price of $88.54. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 12 month low of $60.45 and a 12 month high of $101.42.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Sell-side analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s payout ratio is 14.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company lowered their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Finally, BMO Capital Markets assumed coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.50.

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.