Sei Investments Co. Buys 47,119 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Sei Investments Co. boosted its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,086 shares of the insurance provider’s stock after purchasing an additional 47,119 shares during the quarter. Sei Investments Co. owned about 0.58% of AXIS Capital worth $43,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of AXIS Capital in the fourth quarter worth about $88,175,000. Swedbank AB bought a new stake in AXIS Capital in the 4th quarter worth approximately $31,118,000. Principal Financial Group Inc. raised its holdings in shares of AXIS Capital by 7,053.2% during the 4th quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider’s stock worth $31,366,000 after acquiring an additional 348,993 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AXIS Capital by 131.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider’s stock valued at $20,265,000 after acquiring an additional 144,792 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after purchasing an additional 121,437 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AXS. BMO Capital Markets began coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. TD Cowen increased their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on 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. Finally, Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Price Performance

AXS opened at $98.03 on Tuesday. The business has a fifty day moving average of $92.18 and a 200 day moving average of $87.26. The stock has a market cap of $7.92 billion, a P/E ratio of 7.94, a PEG ratio of 3.96 and a beta of 0.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 52-week low of $60.45 and a 52-week high of $98.26.

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

AXIS Capital Dividend Announcement

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 given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

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.