Comerica Bank lessened its stake in Axis Capital Holdings Limited (NYSE:AXS) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,238 shares of the insurance provider’s stock after selling 335 shares during the period. Comerica Bank’s holdings in Axis Capital were worth $459,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AXS. First Mercantile Trust Co. lifted its stake in Axis Capital by 120.8% during the fourth quarter. First Mercantile Trust Co. now owns 530 shares of the insurance provider’s stock valued at $27,000 after buying an additional 290 shares in the last quarter. Ffcm LLC lifted its stake in Axis Capital by 1,286.8% during the fourth quarter. Ffcm LLC now owns 2,635 shares of the insurance provider’s stock valued at $136,000 after buying an additional 2,445 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new stake in Axis Capital during the fourth quarter valued at about $203,000. Virtu Financial LLC purchased a new stake in Axis Capital during the first quarter valued at about $209,000. Finally, Two Sigma Securities LLC purchased a new stake in Axis Capital during the fourth quarter valued at about $228,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.
A number of analysts have commented on AXS shares. ValuEngine raised shares of Axis Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley set a $62.00 price target on shares of Axis Capital and gave the stock a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of Axis Capital from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, April 2nd. UBS Group increased their price target on shares of Axis Capital from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Finally, TheStreet raised shares of Axis Capital from a “c” rating to a “b-” rating in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $63.00.
Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.16). Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts expect that Axis Capital Holdings Limited will post 4.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. Axis Capital’s dividend payout ratio is currently 83.33%.
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 products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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