Independent Advisor Alliance Purchases 749 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Independent Advisor Alliance grew its position in AXIS Capital Holdings Limited (NYSE:AXS) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,298 shares of the insurance provider’s stock after acquiring an additional 749 shares during the period. Independent Advisor Alliance’s holdings in AXIS Capital were worth $2,951,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after acquiring an additional 112,536 shares during the last quarter. Jennison Associates LLC raised its position in AXIS Capital by 1.6% in the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock worth $146,309,000 after purchasing an additional 25,908 shares during the last quarter. Victory Capital Management Inc. raised its position in AXIS Capital by 2.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,394,491 shares of the insurance provider’s stock worth $111,015,000 after purchasing an additional 33,241 shares during the last quarter. Geode Capital Management LLC raised its position in 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 worth $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in AXIS Capital in the 4th quarter worth approximately $88,175,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

Shares of AXS stock opened at $91.89 on Thursday. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. AXIS Capital Holdings Limited has a 12-month low of $60.45 and a 12-month high of $98.11. The firm has a fifty day moving average of $90.94 and a 200-day moving average of $86.25. 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 (NYSE:AXS) last posted its quarterly earnings data 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 net margin of 18.16% and a return on equity of 18.89%. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date 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%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Cowen boosted their price objective 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. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. 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 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.88.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business’s 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 sale, the director now directly owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. The trade was a 47.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

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.