Keybank National Association OH Cuts Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Keybank National Association OH cut its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,470 shares of the insurance provider’s stock after selling 155 shares during the period. Keybank National Association OH’s holdings in AXIS Capital were worth $2,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of AXIS Capital in the third quarter worth $40,000. Steward Partners Investment Advisory LLC purchased a new stake in AXIS Capital in the 4th quarter worth $53,000. Versant Capital Management Inc lifted its stake in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital during the 4th quarter valued at about $60,000. Finally, Venturi Wealth Management LLC lifted its position in AXIS Capital by 28.5% during the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 185 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors.

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price target 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 raised their price target on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Price Performance

AXS opened at $92.72 on Friday. The business has a fifty day moving average of $90.73 and a 200 day moving average of $85.72. The stock has a market cap of $7.49 billion, a P/E ratio of 7.51, a PEG ratio of 3.96 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 52-week low of $60.45 and a 52-week high of $98.11.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. AXIS Capital’s dividend payout ratio is currently 14.25%.

AXIS Capital 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.