ExodusPoint Capital Management LP Buys New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

ExodusPoint Capital Management LP purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 46,012 shares of the insurance provider’s stock, valued at approximately $4,078,000. ExodusPoint Capital Management LP owned approximately 0.06% of AXIS Capital at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in shares of AXIS Capital by 1.7% in the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock valued at $281,680,000 after purchasing an additional 53,514 shares during the period. State Street Corp boosted its position in AXIS Capital by 7.2% in the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after buying an additional 112,536 shares during the last quarter. Jennison Associates LLC grew its stake in shares of AXIS Capital by 1.6% during the fourth quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock valued at $146,309,000 after acquiring an additional 25,908 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after acquiring an additional 43,687 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of AXIS Capital in the fourth quarter worth about $88,175,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AXIS Capital

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

AXIS Capital Price Performance

AXS opened at $90.68 on Monday. 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 company’s 50-day moving average price is $93.96 and its 200 day moving average price is $88.61. AXIS Capital Holdings Limited has a fifty-two week low of $60.45 and a fifty-two week high of $101.42. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS) last announced 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 return on equity of 18.89% and a net margin of 18.16%. As a group, sell-side analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.94%. AXIS Capital’s dividend payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

AXS has been the topic of several analyst reports. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, March 28th. Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BMO Capital Markets started coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus target price of $100.50.

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.