Bank of New York Mellon Corp decreased its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 2.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 391,423 shares of the insurance provider’s stock after selling 11,771 shares during the quarter. Bank of New York Mellon Corp’s holdings in Axis Capital were worth $21,772,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXS. Victory Capital Management Inc. lifted its stake in Axis Capital by 597.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,477,410 shares of the insurance provider’s stock worth $82,173,000 after purchasing an additional 1,265,436 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Axis Capital in the 1st quarter worth $59,837,000. Paradice Investment Management LLC purchased a new stake in Axis Capital in the 2nd quarter worth $49,225,000. Millennium Management LLC lifted its stake in Axis Capital by 71.1% in the 1st quarter. Millennium Management LLC now owns 1,099,462 shares of the insurance provider’s stock worth $63,296,000 after purchasing an additional 456,703 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Axis Capital by 2,563.0% in the 1st quarter. Point72 Asset Management L.P. now owns 455,371 shares of the insurance provider’s stock worth $26,216,000 after purchasing an additional 438,271 shares in the last quarter. Institutional investors own 89.45% of the company’s stock.
Axis Capital stock opened at $57.26 on Friday. Axis Capital Holdings Limited has a twelve month low of $47.43 and a twelve month high of $60.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $4.65 billion, a PE ratio of -18.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.42.
Several analysts have commented on AXS shares. Wells Fargo & Co reiterated a “hold” rating and issued a $56.00 price target on shares of Axis Capital in a research note on Thursday, May 24th. Goldman Sachs Group started coverage on shares of Axis Capital in a research note on Monday, June 18th. They issued a “neutral” rating and a $60.00 price target on the stock. Zacks Investment Research cut shares of Axis Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. TheStreet cut shares of Axis Capital from a “b-” rating to a “c” rating in a research note on Thursday, June 21st. Finally, Citigroup boosted their price target on shares of Axis Capital from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, August 2nd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Axis Capital currently has an average rating of “Hold” and an average price target of $61.56.
About Axis Capital
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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