KBC Group NV lowered its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 213,019 shares of the insurance provider’s stock after selling 6,427 shares during the quarter. KBC Group NV’s holdings in Axis Capital were worth $10,707,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. California Public Employees Retirement System boosted its stake in Axis Capital by 15.4% in the fourth quarter. California Public Employees Retirement System now owns 385,182 shares of the insurance provider’s stock worth $19,359,000 after purchasing an additional 51,530 shares in the last quarter. River Road Asset Management LLC boosted its stake in Axis Capital by 48.3% in the fourth quarter. River Road Asset Management LLC now owns 1,088,567 shares of the insurance provider’s stock worth $54,711,000 after purchasing an additional 354,291 shares in the last quarter. Boston Partners boosted its stake in Axis Capital by 16.8% in the fourth quarter. Boston Partners now owns 115,610 shares of the insurance provider’s stock worth $5,811,000 after purchasing an additional 16,664 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Axis Capital in the fourth quarter worth $572,000. Finally, Cambiar Investors LLC acquired a new position in Axis Capital in the fourth quarter worth $12,714,000. 85.27% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. Deutsche Bank reduced their price objective on Axis Capital from $55.00 to $54.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Wells Fargo & Co reissued a “hold” rating and issued a $52.00 price objective on shares of Axis Capital in a research note on Wednesday, February 7th. Morgan Stanley reduced their price objective on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. ValuEngine upgraded Axis Capital from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, MKM Partners dropped their target price on Axis Capital from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.22.
Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, February 7th. The insurance provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $729.42 million for the quarter, compared to the consensus estimate of $549.41 million. Axis Capital had a negative return on equity of 4.39% and a negative net margin of 8.04%. The company’s revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. equities analysts anticipate that Axis Capital Holdings Limited will post 4.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, December 28th. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. Axis Capital’s dividend payout ratio is currently -31.20%.
In related news, EVP Conrad D. Brooks sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total value of $392,325.00. Following the completion of the sale, the executive vice president now owns 6,027 shares in the company, valued at $315,272.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.89% of the company’s stock.
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About Axis Capital
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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