Savant Capital LLC Grows Holdings in Axis Capital Holdings Limited $AXS

by · The Markets Daily

Savant Capital LLC raised its stake in Axis Capital Holdings Limited (NYSE:AXS – Free Report) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,553 shares of the insurance provider’s stock after buying an additional 4,637 shares during the period. Savant Capital LLC’s holdings in Axis Capital were worth $7,429,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its position in Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 540 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Axis Capital by 34.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 259 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Axis Capital during the 2nd quarter valued at about $126,000. US Bancorp DE raised its holdings in shares of Axis Capital by 34.3% during the 1st quarter. US Bancorp DE now owns 1,628 shares of the insurance provider’s stock valued at $163,000 after buying an additional 416 shares in the last quarter. Finally, R Squared Ltd lifted its position in Axis Capital by 119.8% in the 1st quarter. R Squared Ltd now owns 2,040 shares of the insurance provider’s stock worth $204,000 after buying an additional 1,112 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on AXS shares. Keefe, Bruyette & Woods reduced their price target on shares of Axis Capital from $125.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Axis Capital in a research note on Wednesday, October 8th. UBS Group lifted their target price on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wells Fargo & Company set a $123.00 price target on shares of Axis Capital and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Axis Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Axis Capital currently has an average rating of “Moderate Buy” and an average target price of $115.00.

View Our Latest Research Report on Axis Capital

Insider Buying and Selling

In other news, insider Daniel J. Draper sold 4,305 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $97.57, for a total transaction of $420,038.85. Following the transaction, the insider directly owned 16,269 shares of the company’s stock, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry B. Smith sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the transaction, the director owned 47,295 shares of the company’s stock, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,205 shares of company stock valued at $1,188,048 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Axis Capital Trading Up 2.0%

NYSE:AXS opened at $99.51 on Friday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.06 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $95.35 and a 200 day moving average of $97.86. Axis Capital Holdings Limited has a 52 week low of $82.92 and a 52 week high of $107.19.

Axis Capital (NYSE:AXS – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. The business had revenue of $184.90 million for the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 EPS. On average, research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, September 30th. Axis Capital’s payout ratio is currently 14.55%.

Axis Capital Company Profile

(Free Report)

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.

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