Avantax Advisory Services Inc. Invests $273,000 in AXIS Capital Holdings Limited (NYSE:AXS)

Avantax Advisory Services Inc. acquired a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, Holdings Channel reports. The fund acquired 3,078 shares of the insurance provider’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. increased its position in AXIS Capital by 48.6% during the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after acquiring an additional 121,437 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of AXIS Capital in the third quarter worth about $638,000. Verition Fund Management LLC purchased a new position in shares of AXIS Capital in the third quarter worth $453,000. Geode Capital Management LLC boosted its position in shares of AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after acquiring an additional 43,687 shares during the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in shares of AXIS Capital in the fourth quarter worth about $300,000. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Stock Performance

NYSE:AXS opened at $98.67 on Wednesday. The company has a fifty day simple moving average of $92.39 and a two-hundred day simple moving average of $87.42. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $100.17. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, March 31st. AXIS Capital’s payout ratio is currently 14.25%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. TD Cowen upped their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company decreased their target price on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets started coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Three investment 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 a consensus price target of $100.25.

Insider Activity

In related news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.