Vestcor Inc Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Vestcor Inc bought a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 10,716 shares of the insurance provider’s stock, valued at approximately $853,000.

A number of other large investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. raised its holdings in AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 985 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in AXIS Capital during the third quarter worth $99,000. Finally, GAMMA Investing LLC grew its holdings in AXIS Capital by 158.0% in the third quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Performance

NYSE AXS opened at $90.78 on Friday. The business’s 50-day moving average price is $85.13 and its 200 day moving average price is $77.90. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a twelve month low of $53.49 and a twelve month high of $94.54. The company has a market capitalization of $7.59 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $2.34 EPS. On average, research analysts predict that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.44 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.94%. AXIS Capital’s dividend payout ratio is currently 24.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AXS. Wells Fargo & Company raised shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $78.00 to $89.00 in a research note on Wednesday. Jefferies Financial Group raised their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and an average price target of $98.71.

AXIS Capital Company Profile

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.