Gries Financial LLC Raises Position in AXIS Capital Holdings Limited (NYSE:AXS)

Gries Financial LLC lifted its position in AXIS Capital Holdings Limited (NYSE:AXS) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,815 shares of the insurance provider’s stock after acquiring an additional 251 shares during the period. Gries Financial LLC’s holdings in AXIS Capital were worth $338,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AXS. True Wealth Design LLC purchased a new position in AXIS Capital during the third quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc boosted its stake in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares in the last quarter. R Squared Ltd purchased a new stake in AXIS Capital in the fourth quarter worth about $82,000. Finally, Blue Trust Inc. increased its stake in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 985 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXS. TD Cowen boosted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. UBS Group raised their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets started coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective for the company. Bank of America increased their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.25.

AXIS Capital Price Performance

Shares of AXS opened at $92.74 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 1-year low of $55.56 and a 1-year high of $94.89. The firm has a market cap of $7.76 billion, a PE ratio of 12.86, a P/E/G ratio of 0.29 and a beta of 0.95. The firm has a fifty day simple moving average of $90.05 and a two-hundred day simple moving average of $82.36.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. On average, equities analysts anticipate that AXIS Capital Holdings Limited will post 10.89 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. AXIS Capital’s payout ratio is 24.41%.

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.