Sumitomo Mitsui Trust Holdings Inc. Raises Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,720 shares of the insurance provider’s stock after acquiring an additional 420 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in AXIS Capital were worth $538,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in AXIS Capital in the fourth quarter worth approximately $1,785,000. Graham Capital Management L.P. raised its stake in shares of AXIS Capital by 721.0% in the 3rd quarter. Graham Capital Management L.P. now owns 58,670 shares of the insurance provider’s stock valued at $3,307,000 after acquiring an additional 51,524 shares during the period. Sei Investments Co. raised its stake in shares of AXIS Capital by 3.9% in the 3rd quarter. Sei Investments Co. now owns 323,408 shares of the insurance provider’s stock valued at $18,230,000 after acquiring an additional 12,019 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $5,767,000. Finally, Vanguard Group Inc. raised its stake in shares of AXIS Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after acquiring an additional 207,233 shares during the period. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AXIS Capital

In other news, Director Stanley A. Galanski acquired 7,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $58.45 per share, with a total value of $409,150.00. Following the transaction, the director now owns 9,763 shares in the company, valued at approximately $570,647.35. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

AXIS Capital Price Performance

Shares of AXS opened at $61.90 on Friday. AXIS Capital Holdings Limited has a fifty-two week low of $51.61 and a fifty-two week high of $65.86. The firm’s 50 day moving average price is $62.74 and its 200 day moving average price is $58.47. The company has a market cap of $5.24 billion, a P/E ratio of 15.50, a PEG ratio of 1.20 and a beta of 0.80. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 31st. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of ($1.25) by $4.19. AXIS Capital had a net margin of 6.67% and a return on equity of 19.25%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. On average, research analysts forecast that AXIS Capital Holdings Limited will post 10.39 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, March 1st. AXIS Capital’s dividend payout ratio is presently 43.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Thursday, April 11th. Finally, StockNews.com downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.33.

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.