Michael A. Butt Sells 40,673 Shares of Axis Capital Holdings Ltd. (AXS) Stock
Axis Capital Holdings Ltd. (NYSE:AXS) Director Michael A. Butt sold 40,673 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the transaction, the director now directly owns 1,161,675 shares of the company’s stock, valued at $66,227,091.75. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Axis Capital Holdings Ltd. (NYSE:AXS) traded down 0.02% during mid-day trading on Monday, reaching $56.95. 312,769 shares of the company traded hands. Axis Capital Holdings Ltd. has a 52-week low of $51.01 and a 52-week high of $57.98. The stock’s 50 day moving average is $55.65 and its 200 day moving average is $54.79. The stock has a market capitalization of $5.16 billion, a PE ratio of 10.10 and a beta of 0.74.
Axis Capital Holdings (NYSE:AXS) last announced its earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.19. Axis Capital Holdings had a net margin of 14.19% and a return on equity of 6.44%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $983.53 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Axis Capital Holdings’s revenue was up 3.6% compared to the same quarter last year. On average, analysts anticipate that Axis Capital Holdings Ltd. will post $3.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Axis Capital Holdings’s previous quarterly dividend of $0.29. Axis Capital Holdings’s payout ratio is 25.04%.
AXS has been the subject of several recent analyst reports. Citigroup Inc. reissued a “neutral” rating on shares of Axis Capital Holdings in a report on Tuesday, June 21st. Zacks Investment Research raised shares of Axis Capital Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Morgan Stanley raised their price objective on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Eight research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $59.00.
Institutional investors have recently made changes to their positions in the company. First Interstate Bank bought a new position in shares of Axis Capital Holdings during the second quarter worth about $110,000. Assetmark Inc. bought a new position in shares of Axis Capital Holdings during the second quarter worth about $111,000. MU Investments Co. Ltd. bought a new position in shares of Axis Capital Holdings during the second quarter worth about $119,000. Daiwa SB Investments Ltd. raised its stake in shares of Axis Capital Holdings by 8.3% in the second quarter. Daiwa SB Investments Ltd. now owns 3,260 shares of the company’s stock valued at $172,000 after buying an additional 250 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of Axis Capital Holdings by 0.6% in the second quarter. Synovus Financial Corp now owns 4,314 shares of the company’s stock valued at $241,000 after buying an additional 26 shares during the period. 90.16% of the stock is currently owned by institutional investors and hedge funds.
About Axis Capital Holdings
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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