AXIS Capital Holdings Limited (NYSE:AXS) Position Increased by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its position in AXIS Capital Holdings Limited (NYSE:AXS) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,155 shares of the insurance provider’s stock after acquiring an additional 462 shares during the period. New York Life Investment Management LLC’s holdings in AXIS Capital were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of AXIS Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after purchasing an additional 207,233 shares in the last quarter. American Century Companies Inc. boosted its position in AXIS Capital by 2.5% during the 3rd quarter. American Century Companies Inc. now owns 2,976,903 shares of the insurance provider’s stock worth $167,808,000 after acquiring an additional 72,913 shares during the period. Johnson Investment Counsel Inc. boosted its position in AXIS Capital by 0.9% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,776,551 shares of the insurance provider’s stock worth $100,144,000 after acquiring an additional 16,031 shares during the period. AQR Capital Management LLC grew its stake in AXIS Capital by 89.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider’s stock valued at $69,381,000 after acquiring an additional 581,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AXIS Capital by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 942,121 shares of the insurance provider’s stock valued at $53,107,000 after purchasing an additional 31,031 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 1.5 %

AXIS Capital stock opened at $69.82 on Thursday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.29 and a beta of 0.80. The firm has a fifty day moving average price of $63.21 and a two-hundred day moving average price of $58.96. AXIS Capital Holdings Limited has a fifty-two week low of $51.61 and a fifty-two week high of $69.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.62.

AXIS Capital (NYSE:AXS) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.17. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that AXIS Capital Holdings Limited will post 10.17 earnings per share for the current year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.76 annualized dividend and a yield of 2.52%. AXIS Capital’s dividend payout ratio is 26.91%.

Wall Street Analysts Forecast Growth

AXS has been the topic of several research analyst reports. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. UBS Group lifted their price target on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 5th. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their target price on shares of AXIS Capital from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.33.

Insider Transactions at AXIS Capital

In related news, Director W Marston Becker bought 3,025 shares of AXIS Capital stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the completion of the purchase, the director now owns 21,821 shares in the company, valued at $1,452,842.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

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.