Picton Mahoney Asset Management Purchases 1,835 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Picton Mahoney Asset Management grew its position in AXIS Capital Holdings Limited (NYSE:AXS) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,573 shares of the insurance provider’s stock after purchasing an additional 1,835 shares during the quarter. Picton Mahoney Asset Management’s holdings in AXIS Capital were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of AXIS Capital in the fourth quarter worth $88,175,000. Swedbank AB acquired a new stake in shares of AXIS Capital in the fourth quarter worth $31,118,000. Principal Financial Group Inc. grew its stake 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 acquiring an additional 348,993 shares during the last quarter. Jennison Associates LLC grew its stake 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 acquiring an additional 318,784 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AXIS Capital by 131.9% during 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 buying an additional 144,792 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXS. TD Cowen lifted their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets began coverage on shares of AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AXIS Capital currently has a consensus rating of “Moderate Buy” and an average price target of $100.25.

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 stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the sale, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

AXIS Capital Stock Up 2.2 %

Shares of NYSE AXS opened at $93.66 on Friday. The stock has a market cap of $7.57 billion, a PE ratio of 7.58, a PEG ratio of 3.96 and a beta of 0.91. The business has a fifty day moving average of $91.16 and a two-hundred day moving average of $86.51. AXIS Capital Holdings Limited has a 52-week low of $60.45 and a 52-week high of $98.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last released its quarterly 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 return on equity of 18.89% and a net margin of 18.16%. As a group, equities research analysts expect that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued 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 dividend yield of 1.88%. AXIS Capital’s dividend payout ratio is 14.25%.

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.