AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lowered its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 4.9% in the fourth quarter, HoldingsChannel reports. The fund owned 80,628 shares of the insurance provider’s stock after selling 4,191 shares during the quarter. Meritage Portfolio Management’s holdings in AXIS Capital were worth $7,145,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AXS. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at about $40,000. Versant Capital Management Inc boosted its stake in 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 acquiring an additional 130 shares during the period. R Squared Ltd bought a new stake in shares of AXIS Capital in the 4th quarter worth approximately $82,000. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in AXIS Capital during the 3rd quarter valued at about $99,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

AXS has been the topic of several research reports. TD Cowen boosted their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Bank of America boosted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Stock Up 0.2 %

Shares of AXS stock opened at $90.37 on Wednesday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 7.32, a P/E/G ratio of 3.87 and a beta of 0.95. 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 Holdings Limited has a 12-month low of $56.93 and a 12-month high of $94.89. The firm has a fifty day moving average of $90.06 and a 200-day moving average of $82.88.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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%. As a group, equities research analysts predict that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s payout ratio is presently 14.25%.

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.