AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Cambiar Investors LLC

by · The Markets Daily

Cambiar Investors LLC trimmed its holdings in AXIS Capital Holdings Limited (NYSE:AXS – Free Report) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,671 shares of the insurance provider’s stock after selling 982 shares during the quarter. Cambiar Investors LLC’s holdings in AXIS Capital were worth $3,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in AXIS Capital by 32.5% in the first quarter. Principal Financial Group Inc. now owns 6,473 shares of the insurance provider’s stock valued at $421,000 after purchasing an additional 1,587 shares during the period. Commonwealth Equity Services LLC acquired a new position in AXIS Capital in the 1st quarter valued at about $669,000. Janney Montgomery Scott LLC purchased a new stake in AXIS Capital during the 1st quarter valued at approximately $683,000. Connecticut Wealth Management LLC acquired a new stake in AXIS Capital during the 1st quarter worth approximately $838,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of AXIS Capital by 600.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the insurance provider’s stock valued at $455,000 after purchasing an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 1.0 %

AXS stock opened at $79.06 on Friday. AXIS Capital Holdings Limited has a 52 week low of $52.90 and a 52 week high of $83.19. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.66 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.27 and a beta of 0.89. The company’s 50-day moving average price is $79.37 and its 200 day moving average price is $73.39.

AXIS Capital (NYSE:AXS – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.21. AXIS Capital had a return on equity of 19.83% and a net margin of 10.82%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, research analysts expect that AXIS Capital Holdings Limited will post 10.73 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AXS shares. Jefferies Financial Group upped their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their target price on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. TD Cowen started coverage on shares of AXIS Capital in a research note on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. Bank of America increased their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.86.

Read Our Latest Stock Report on AXIS Capital

AXIS Capital Profile

(Free Report)

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.

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