AXIS Capital Holdings Limited (NYSE:AXS) Director Sells $199,999,959.50 in Stock

AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. This represents a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AXIS Capital Price Performance

AXS opened at $92.01 on Friday. The firm has a market cap of $7.43 billion, a P/E ratio of 7.45, a PEG ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $98.11. The firm has a 50-day moving average of $90.77 and a 200 day moving average of $85.77.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.91%. AXIS Capital’s payout ratio is presently 14.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in AXIS Capital in the 3rd quarter valued at about $40,000. Steward Partners Investment Advisory LLC bought a new stake in shares of AXIS Capital in the fourth quarter valued at approximately $53,000. Versant Capital Management Inc raised its position in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of AXIS Capital by 73.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in AXIS Capital in the 4th quarter worth approximately $60,000. Institutional investors own 93.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXS. Wells Fargo & Company cut their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.88.

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.