Levin Capital Strategies L.P. Purchases 6,665 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Levin Capital Strategies L.P. lifted its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,119 shares of the insurance provider’s stock after buying an additional 6,665 shares during the quarter. AXIS Capital comprises 2.0% of Levin Capital Strategies L.P.’s holdings, making the stock its 18th biggest position. Levin Capital Strategies L.P.’s holdings in AXIS Capital were worth $19,013,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of AXIS Capital during the 4th quarter worth approximately $52,845,000. ING Groep NV acquired a new position in AXIS Capital in the 4th quarter valued at $1,168,000. Toronto Dominion Bank bought a new stake in shares of AXIS Capital during the 1st quarter valued at $5,137,000. Foundry Partners LLC grew its holdings in shares of AXIS Capital by 35.6% during the 1st quarter. Foundry Partners LLC now owns 85,803 shares of the insurance provider’s stock worth $5,579,000 after purchasing an additional 22,540 shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new position in shares of AXIS Capital in the fourth quarter worth $7,815,000. Institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Roth Mkm increased their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America lifted their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company raised their target price on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. UBS Group increased their price target on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods upped their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus target price of $80.50.

AXIS Capital Stock Up 0.2 %

Shares of AXS opened at $76.85 on Tuesday. The company has a market capitalization of $6.47 billion, a PE ratio of 11.75, a PEG ratio of 0.26 and a beta of 0.89. The stock’s 50-day moving average price is $73.92 and its two-hundred day moving average price is $69.08. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. AXIS Capital Holdings Limited has a 12 month low of $52.90 and a 12 month high of $80.50.

AXIS Capital (NYSE:AXS) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.23 earnings per share. On average, analysts anticipate that AXIS Capital Holdings Limited will post 10.71 EPS for the current year.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.