TD Asset Management Inc Sells 95,200 Shares of Axis Capital Holdings Limited $AXS

TD Asset Management Inc decreased its stake in Axis Capital Holdings Limited (NYSE:AXS) by 41.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 135,400 shares of the insurance provider’s stock after selling 95,200 shares during the period. TD Asset Management Inc’s holdings in Axis Capital were worth $12,971,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in shares of Axis Capital during the 3rd quarter worth approximately $29,000. Smithfield Trust Co grew its holdings in 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 purchasing an additional 142 shares during the period. AlphaCore Capital LLC purchased a new stake in Axis Capital in the second quarter worth $37,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Axis Capital in the second quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital during the 3rd quarter valued at $43,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXS. UBS Group reissued a “buy” rating on shares of Axis Capital in a report on Monday, February 2nd. Mizuho set a $141.00 target price on shares of Axis Capital in a research note on Monday, February 2nd. Roth Mkm reissued a “buy” rating and issued a $120.00 price target on shares of Axis Capital in a research report on Thursday, January 29th. Keefe, Bruyette & Woods upped their price target on shares of Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada lifted their price objective on shares of Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Axis Capital Price Performance

AXS stock opened at $105.78 on Monday. The firm has a 50 day moving average of $104.09 and a 200-day moving average of $100.00. The firm has a market capitalization of $8.15 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. Axis Capital Holdings Limited has a 12 month low of $84.81 and a 12 month high of $110.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.28. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.90%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.38 EPS. As a group, sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. Axis Capital’s dividend payout ratio (DPR) is presently 14.21%.

About Axis Capital

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.