47,334 Shares in Axis Capital Holdings Limited $AXS Purchased by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in Axis Capital Holdings Limited (NYSE:AXS) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 47,334 shares of the insurance provider’s stock, valued at approximately $4,535,000.

A number of other institutional investors have also modified their holdings of AXS. Root Financial Partners LLC acquired a new stake in Axis Capital during the third quarter valued at approximately $29,000. Smithfield Trust Co boosted its holdings in shares of Axis Capital by 94.0% during the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 142 shares during the period. AlphaCore Capital LLC bought a new position in Axis Capital in the 2nd quarter worth about $37,000. Elevation Point Wealth Partners LLC bought a new position in Axis Capital in the 2nd quarter worth approximately $41,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Axis Capital in the third quarter worth $43,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Performance

Shares of AXS stock opened at $99.86 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. Axis Capital Holdings Limited has a fifty-two week low of $84.81 and a fifty-two week high of $110.34. The stock’s 50-day moving average is $103.17 and its two-hundred day moving average is $100.31. The firm has a market cap of $7.39 billion, a P/E ratio of 8.06, a PEG ratio of 2.01 and a beta of 0.61.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.28. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $3.38 EPS. Analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.44 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.8%. Axis Capital’s dividend payout ratio (DPR) is presently 14.21%.

Analyst Ratings Changes

A number of research analysts recently commented on AXS shares. Weiss Ratings lowered shares of Axis Capital from a “buy (a-)” rating to a “buy (b)” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of Axis Capital in a research note on Friday, January 30th. Bank of America cut their price target on shares of Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Wells Fargo & Company decreased their price objective on shares of Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

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.