California Public Employees Retirement System Grows Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

California Public Employees Retirement System increased its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 357,074 shares of the insurance provider’s stock after acquiring an additional 6,017 shares during the period. California Public Employees Retirement System owned approximately 0.43% of AXIS Capital worth $31,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after purchasing an additional 121,437 shares during the period. HighTower Advisors LLC purchased a new position in AXIS Capital during the third quarter worth about $638,000. Verition Fund Management LLC acquired a new stake in shares of AXIS Capital during the third quarter valued at about $453,000. Geode Capital Management LLC raised its stake in shares of AXIS Capital by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock valued at $100,921,000 after acquiring an additional 43,687 shares during the period. Finally, Summit Trail Advisors LLC acquired a new position in shares of AXIS Capital in the 4th quarter worth approximately $300,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

AXIS Capital Stock Up 0.6 %

AXS stock opened at $101.16 on Thursday. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $101.42. The company’s 50 day moving average price is $93.67 and its 200 day moving average price is $88.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data 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, equities research analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.74%. AXIS Capital’s payout ratio is currently 14.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Wells Fargo & Company dropped their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Finally, JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

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.