Summit Trail Advisors LLC Buys Shares of 3,369 AXIS Capital Holdings Limited (NYSE:AXS)

Summit Trail Advisors LLC purchased a new position in AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,369 shares of the insurance provider’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after purchasing an additional 121,437 shares during the period. HighTower Advisors LLC purchased a new position in AXIS Capital in the 3rd quarter worth about $638,000. Verition Fund Management LLC bought a new stake in AXIS Capital during the 3rd quarter valued at about $453,000. Entropy Technologies LP purchased a new stake in AXIS Capital in the 3rd quarter valued at about $507,000. Finally, Jennison Associates LLC grew its stake in AXIS Capital by 24.4% in the 3rd 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 in the last quarter. 93.44% of the stock is owned by institutional investors.

AXIS Capital Stock Performance

AXS stock opened at $89.50 on Thursday. The firm has a 50-day simple moving average of $89.88 and a two-hundred day simple moving average of $83.64. 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 Holdings Limited has a one year low of $59.53 and a one year high of $94.89. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 4.01 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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%. On average, equities analysts forecast that AXIS Capital Holdings Limited will post 11.36 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AXS shares. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group upped their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BMO Capital Markets started coverage on 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. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.88.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

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.