Lingohr Asset Management GmbH Lowers Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Lingohr Asset Management GmbH decreased its position in AXIS Capital Holdings Limited (NYSE:AXS) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,776 shares of the insurance provider’s stock after selling 1,177 shares during the period. AXIS Capital accounts for about 2.0% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 11th biggest position. Lingohr Asset Management GmbH’s holdings in AXIS Capital were worth $952,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in AXIS Capital during the third quarter worth $40,000. Steward Partners Investment Advisory LLC purchased a new stake in AXIS Capital during the fourth quarter worth $53,000. Versant Capital Management Inc lifted its holdings in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in AXIS Capital during the fourth quarter worth $60,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AXS. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. Wells Fargo & Company lowered their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. TD Cowen upped 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. Finally, StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Price Performance

NYSE AXS opened at $94.97 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s fifty day moving average price is $91.60 and its 200 day moving average price is $86.84. AXIS Capital Holdings Limited has a 1 year low of $60.45 and a 1 year high of $98.11. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating 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, 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 company also recently announced 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. This represents a $1.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, March 31st. AXIS Capital’s payout ratio is 14.25%.

Insider Activity at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now directly owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

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.