Swedbank AB Buys Shares of 351,139 AXIS Capital Holdings Limited (NYSE:AXS)

Swedbank AB purchased a new position in AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 351,139 shares of the insurance provider’s stock, valued at approximately $31,118,000. Swedbank AB owned about 0.42% of AXIS Capital as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXS. Jennison Associates LLC grew its stake in AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after acquiring an additional 318,784 shares during the period. Millennium Management LLC raised its position in AXIS Capital by 1,644.8% during the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock worth $17,009,000 after acquiring an additional 226,956 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AXIS Capital by 131.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider’s stock worth $20,265,000 after purchasing an additional 144,792 shares during the period. Franklin Resources Inc. lifted its stake in shares of AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after buying an additional 121,437 shares in the last quarter. Finally, State Street Corp lifted its position in AXIS Capital by 7.2% in the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after acquiring an additional 112,536 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Trading Up 3.0 %

NYSE AXS opened at $92.74 on Friday. The stock has a 50-day moving average of $90.05 and a 200-day moving average of $82.36. 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 price-to-earnings-growth ratio of 0.29 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. As a group, sell-side analysts forecast that AXIS Capital Holdings Limited will post 10.89 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.90%. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXS. Jefferies Financial Group upped their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. TD Cowen increased their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America raised their target price on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.25.

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.