Ladenburg Thalmann Financial Services Inc. decreased its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 55.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,114 shares of the insurance provider’s stock after selling 2,682 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Axis Capital were worth $106,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Wolverine Trading LLC bought a new position in Axis Capital in the 4th quarter valued at $373,000. Elkfork Partners LLC increased its stake in shares of Axis Capital by 52.5% in the 4th quarter. Elkfork Partners LLC now owns 21,776 shares of the insurance provider’s stock valued at $1,094,000 after buying an additional 7,498 shares during the period. NWQ Investment Management Company LLC increased its stake in shares of Axis Capital by 9.9% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,356,863 shares of the insurance provider’s stock valued at $68,196,000 after buying an additional 122,224 shares during the period. Prana Capital Management LP acquired a new stake in shares of Axis Capital in the 4th quarter valued at $4,204,000. Finally, Paloma Partners Management Co increased its stake in shares of Axis Capital by 7.1% in the 4th quarter. Paloma Partners Management Co now owns 19,704 shares of the insurance provider’s stock valued at $990,000 after buying an additional 1,312 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.
Shares of Axis Capital stock opened at $56.65 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.30. Axis Capital Holdings Limited has a 12 month low of $47.43 and a 12 month high of $68.51. The firm has a market cap of $4,697.44, a P/E ratio of -17.98, a P/E/G ratio of 1.60 and a beta of 0.34.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were paid a dividend of $0.39 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.75%. Axis Capital’s dividend payout ratio (DPR) is presently -49.52%.
In related news, Director Charles A. Davis acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $49.90 per share, with a total value of $1,247,500.00. Following the completion of the purchase, the director now directly owns 34,063 shares in the company, valued at $1,699,743.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.
AXS has been the subject of several research reports. Zacks Investment Research cut Axis Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 27th. UBS raised Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 target price for the company in a research note on Thursday, January 11th. Wells Fargo set a $52.00 target price on Axis Capital and gave the company a “hold” rating in a research note on Wednesday, January 17th. Deutsche Bank lowered their target price on Axis Capital from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Finally, ValuEngine raised Axis Capital from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.33.
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Axis Capital Profile
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 for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.
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