Evolve Private Wealth LLC Makes New $5.19 Million Investment in Axis Capital Holdings Limited $AXS

Evolve Private Wealth LLC bought a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 48,278 shares of the insurance provider’s stock, valued at approximately $5,191,000. Evolve Private Wealth LLC owned about 0.06% of Axis Capital as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Activest Wealth Management bought a new stake in Axis Capital in the fourth quarter valued at about $30,000. Fideuram Asset Management Ireland dac bought a new position in Axis Capital during the fourth quarter worth about $47,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Axis Capital during the 4th quarter worth about $51,000. DV Equities LLC bought a new stake in shares of Axis Capital in the 4th quarter valued at about $54,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Axis Capital in the 4th quarter valued at about $55,000. 93.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXS has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 4th. Wells Fargo & Company reduced their price target on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Mizuho set a $137.00 price target on shares of Axis Capital in a report on Monday, May 4th. Keefe, Bruyette & Woods lowered their price objective on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Bank of America dropped their price objective on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Axis Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.10.

Insider Activity

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Axis Capital Stock Up 0.6%

Shares of AXS stock opened at $103.32 on Thursday. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $110.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $99.37 and a 200-day moving average of $101.81. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 3.14 and a beta of 0.51.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.33 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 EPS. As a group, equities research analysts predict that Axis Capital Holdings Limited will post 13.25 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Axis Capital’s dividend payout ratio is currently 13.11%.

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.