Axis Capital Holdings Limited (AXS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its position in Axis Capital Holdings Limited (NYSE:AXS) by 97.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,300 shares of the insurance provider’s stock after selling 442,071 shares during the quarter. Point72 Asset Management L.P.’s holdings in Axis Capital were worth $740,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Axis Capital in the 2nd quarter valued at approximately $172,000. Neuberger Berman Group LLC purchased a new stake in shares of Axis Capital in the 1st quarter valued at approximately $213,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Axis Capital by 75.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,708 shares of the insurance provider’s stock valued at $214,000 after acquiring an additional 1,594 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Axis Capital by 4,075.0% in the 1st quarter. Summit Trail Advisors LLC now owns 4,175 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 4,075 shares in the last quarter. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of Axis Capital in the 2nd quarter valued at approximately $288,000. Institutional investors and hedge funds own 89.44% of the company’s stock.

AXS stock opened at $58.22 on Monday. Axis Capital Holdings Limited has a 12-month low of $47.43 and a 12-month high of $60.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, July 25th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. Axis Capital had a negative net margin of 6.16% and a negative return on equity of 3.63%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts anticipate that Axis Capital Holdings Limited will post 4.77 EPS for the current year.

AXS has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Axis Capital from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Monday, June 4th. Goldman Sachs Group initiated coverage on shares of Axis Capital in a research report on Monday, June 18th. They issued a “neutral” rating and a $60.00 price target for the company. TheStreet downgraded shares of Axis Capital from a “b-” rating to a “c” rating in a research report on Thursday, June 21st. Finally, Citigroup increased their target price on shares of Axis Capital from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Axis Capital has an average rating of “Hold” and a consensus price target of $61.56.

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Axis Capital (NYSE:AXS)

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