AXIS Capital Holdings Limited (NYSE:AXS) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management boosted its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 1,132.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,474 shares of the insurance provider’s stock after purchasing an additional 87,729 shares during the quarter. Meritage Portfolio Management’s holdings in AXIS Capital were worth $5,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in shares of AXIS Capital during the 4th quarter worth $43,000. VisionPoint Advisory Group LLC purchased a new stake in AXIS Capital during the third quarter valued at about $51,000. Daiwa Securities Group Inc. acquired a new position in AXIS Capital during the fourth quarter valued at approximately $55,000. CWM LLC raised its stake in shares of AXIS Capital by 1,787.0% during the third quarter. CWM LLC now owns 1,302 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 1,233 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of AXIS Capital by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Stock Performance

NYSE AXS traded down $0.91 on Friday, hitting $60.99. 298,260 shares of the stock were exchanged, compared to its average volume of 632,003. The business’s fifty day moving average is $62.73 and its 200 day moving average is $58.49. The company has a market capitalization of $5.17 billion, a PE ratio of 15.40, a P/E/G ratio of 1.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a 52 week low of $51.61 and a 52 week high of $65.86.

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

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, March 1st. AXIS Capital’s payout ratio is 43.78%.

Insider Buying and Selling at AXIS Capital

In related news, Director Stanley A. Galanski bought 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $58.45 per share, with a total value of $409,150.00. Following the completion of the transaction, the director now directly owns 9,763 shares in the company, valued at $570,647.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

AXS has been the topic of several analyst reports. UBS Group increased their target price on AXIS Capital from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company cut their price objective on AXIS Capital from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.33.

AXIS Capital 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.