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Jennison Associates LLC trimmed its position in AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,721,903 shares of the insurance provider’s stock after selling 96,556 shares during the quarter. Jennison Associates LLC owned approximately 2.03% of AXIS Capital worth $84,632,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of AXIS Capital by 50.9% in the first quarter. JPMorgan Chase & Co. now owns 125,923 shares of the insurance provider’s stock worth $7,614,000 after purchasing an additional 42,496 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AXIS Capital by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 275,103 shares of the insurance provider’s stock worth $16,635,000 after purchasing an additional 16,513 shares in the last quarter. US Bancorp DE lifted its position in shares of AXIS Capital by 447.2% in the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 398 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of AXIS Capital in the first quarter worth approximately $366,000. Finally, Bank of Montreal Can purchased a new stake in shares of AXIS Capital in the first quarter worth approximately $201,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AXS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered shares of AXIS Capital from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $63.00 to $60.00 in a research report on Sunday, December 18th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 10th. Wells Fargo & Company lowered shares of AXIS Capital from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective on the stock. in a research report on Friday, December 16th. Finally, TheStreet raised shares of AXIS Capital from a “c+” rating to a “b-” rating in a research report on Monday, November 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.50.
AXIS Capital Trading Up 1.0 %
Shares of AXS stock opened at $56.90 on Friday. AXIS Capital Holdings Limited has a 12 month low of $48.32 and a 12 month high of $61.39. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $55.67 and its two-hundred day moving average is $53.76. The company has a market cap of $4.82 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.76.
AXIS Capital (NYSE:AXS – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The insurance provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). AXIS Capital had a net margin of 7.47% and a return on equity of 12.52%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.01 EPS. Equities analysts predict that AXIS Capital Holdings Limited will post 5.55 EPS for the current year.
AXIS Capital Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 18th. Stockholders of record on Friday, December 30th will be paid a $0.44 dividend. This is an increase from AXIS Capital’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, December 29th. This represents a $1.76 annualized dividend and a dividend yield of 3.09%. AXIS Capital’s dividend payout ratio (DPR) is presently 43.14%.
AXIS Capital Profile
(Get Rating)
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
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Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AXIS Capital Holdings Limited (NYSE:AXS – Get Rating).
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