Wedge Capital Management L L P NC Sells 5,930 Shares of Axis Capital Holdings Limited $AXS

Wedge Capital Management L L P NC trimmed its position in Axis Capital Holdings Limited (NYSE:AXS) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,034 shares of the insurance provider’s stock after selling 5,930 shares during the quarter. Wedge Capital Management L L P NC owned 0.11% of Axis Capital worth $8,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXS. Activest Wealth Management acquired a new position in shares of Axis Capital in the 4th quarter valued at $30,000. Assetmark Inc. lifted its holdings in shares of Axis Capital by 80.8% during the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 177 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Axis Capital during the 1st quarter valued at about $43,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Axis Capital during the 4th quarter valued at about $47,000. Finally, DV Equities LLC acquired a new stake in shares of Axis Capital during the 4th quarter valued at about $54,000. 93.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXS shares. Capital One Financial set a $108.00 price target on shares of Axis Capital in a research report on Wednesday, July 29th. Mizuho cut their price target on shares of Axis Capital from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Weiss Ratings upgraded Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods dropped their target price on Axis Capital from $131.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Finally, Wells Fargo & Company cut their target price on Axis Capital from $134.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.50.

Axis Capital Trading Down 1.4%

Shares of Axis Capital stock opened at $99.29 on Thursday. The stock has a market capitalization of $7.24 billion, a P/E ratio of 7.05, a price-to-earnings-growth ratio of 4.33 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.26. The company has a 50-day simple moving average of $107.27 and a 200 day simple moving average of $103.31. Axis Capital Holdings Limited has a 12-month low of $88.07 and a 12-month high of $119.99.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.41). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. Axis Capital’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.29 earnings per share. Research analysts expect that Axis Capital Holdings Limited will post 12.58 earnings per share for the current fiscal year.

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.