Truist Financial Corp lowered its position in AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) by 42.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,756 shares of the insurance provider’s stock after selling 3,539 shares during the quarter. Truist Financial Corp’s holdings in AXIS Capital were worth $234,000 at the end of the most recent quarter.
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A number of other institutional investors have also recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its stake in shares of AXIS Capital by 1.4% in the 1st quarter. Gabelli Funds LLC now owns 21,900 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 300 shares in the last quarter. US Bancorp DE raised its stake in shares of AXIS Capital by 447.2% in the 1st quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 398 shares in the last quarter. Bank of Montreal Can raised its stake in shares of AXIS Capital by 11.9% in the 2nd quarter. Bank of Montreal Can now owns 3,747 shares of the insurance provider’s stock valued at $221,000 after purchasing an additional 398 shares in the last quarter. Ziegler Capital Management LLC raised its stake in shares of AXIS Capital by 2.8% in the 2nd quarter. Ziegler Capital Management LLC now owns 14,845 shares of the insurance provider’s stock valued at $848,000 after purchasing an additional 399 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of AXIS Capital by 0.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 115,786 shares of the insurance provider’s stock valued at $5,690,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.
AXIS Capital Price Performance
NYSE AXS opened at $63.47 on Friday. AXIS Capital Holdings Limited has a 52 week low of $48.32 and a 52 week high of $63.49. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.76. The company has a 50-day moving average price of $56.25 and a two-hundred day moving average price of $53.87.
AXIS Capital (NYSE:AXS – Get Rating) last posted its earnings results on Thursday, January 26th. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.70 by $0.25. AXIS Capital had a net margin of 7.47% and a return on equity of 12.52%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. AXIS Capital’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts forecast that AXIS Capital Holdings Limited will post 5.57 EPS for the current year.
AXIS Capital Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, December 30th were given a $0.44 dividend. This is a boost from AXIS Capital’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, December 29th. This represents a $1.76 annualized dividend and a yield of 2.77%. AXIS Capital’s dividend payout ratio is 43.14%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on AXS shares. Keefe, Bruyette & Woods lowered shares of AXIS Capital from an “outperform” rating to a “market perform” rating and cut their target price for the company from $63.00 to $60.00 in a research note on Sunday, December 18th. TheStreet upgraded shares of AXIS Capital from a “c+” rating to a “b-” rating in a research note on Monday, November 28th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. Finally, 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 note on Friday, December 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.50.
AXIS Capital Profile
AXIS Capital Holdings Ltd. engages in the provision of various insurance and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, political risk, professional lines, liability, and accident, and health insurance products.
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