AXIS Capital Holdings Limited (NYSE:AXS) Position Reduced by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,849 shares of the insurance provider’s stock after selling 18,900 shares during the quarter. First Eagle Investment Management LLC owned 0.23% of AXIS Capital worth $16,736,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of AXIS Capital in the fourth quarter worth approximately $88,175,000. Swedbank AB purchased a new stake in shares of AXIS Capital in the fourth quarter worth approximately $31,118,000. Principal Financial Group Inc. lifted its position in shares of AXIS Capital by 7,053.2% in the fourth quarter. Principal Financial Group Inc. now owns 353,941 shares of the insurance provider’s stock worth $31,366,000 after purchasing an additional 348,993 shares in the last quarter. Jennison Associates LLC lifted its position in shares of AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after purchasing an additional 318,784 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AXIS Capital by 131.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider’s stock worth $20,265,000 after purchasing an additional 144,792 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AXS. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. BMO Capital Markets initiated 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 price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and an average target price of $100.25.

AXIS Capital Trading Down 0.3 %

Shares of AXS stock opened at $91.65 on Friday. AXIS Capital Holdings Limited has a 12 month low of $60.45 and a 12 month high of $98.11. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $91.01 and its two-hundred day moving average is $86.29. The company has a market cap of $7.40 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91.

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

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.92%. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.