Franklin Resources Inc. Increases Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

Franklin Resources Inc. increased its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 48.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,557 shares of the insurance provider’s stock after buying an additional 121,437 shares during the period. Franklin Resources Inc.’s holdings in AXIS Capital were worth $30,070,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AXS. Tidal Investments LLC acquired a new stake in shares of AXIS Capital during the third quarter valued at about $1,004,000. Sanctuary Advisors LLC grew its stake in AXIS Capital by 108.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 48,828 shares of the insurance provider’s stock valued at $3,887,000 after purchasing an additional 25,436 shares in the last quarter. Geode Capital Management LLC increased its holdings in AXIS Capital by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Vestcor Inc acquired a new position in shares of AXIS Capital in the 3rd quarter valued at approximately $853,000. Finally, Barclays PLC boosted its stake in shares of AXIS Capital by 53.6% during the 3rd quarter. Barclays PLC now owns 48,964 shares of the insurance provider’s stock valued at $3,898,000 after buying an additional 17,082 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analysts Set New Price Targets

AXS has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $78.00 to $89.00 in a research note on Wednesday, December 11th. Bank of America lifted their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, TD Cowen increased their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.71.

AXIS Capital Stock Performance

Shares of AXS stock opened at $88.20 on Thursday. The company has a market cap of $7.38 billion, a P/E ratio of 12.23, a PEG ratio of 0.31 and a beta of 0.94. The business has a 50 day moving average of $85.84 and a two-hundred day moving average of $78.40. AXIS Capital Holdings Limited has a 52 week low of $53.49 and a 52 week high of $94.89. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

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

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given 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 2.00%. AXIS Capital’s dividend payout ratio is presently 24.41%.

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.