VELA Investment Management LLC Reduces Stock Position in AXIS Capital Holdings Limited (NYSE:AXS)

VELA Investment Management LLC cut its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,619 shares of the insurance provider’s stock after selling 2,950 shares during the quarter. AXIS Capital accounts for about 1.0% of VELA Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. VELA Investment Management LLC’s holdings in AXIS Capital were worth $3,294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXS. Versant Capital Management Inc raised its stake in AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. GAMMA Investing LLC increased its position in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares during the last quarter. Covestor Ltd lifted its holdings in AXIS Capital by 45.9% in the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 185 shares during the period. TFO Wealth Partners LLC boosted its position in AXIS Capital by 61,675.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in shares of AXIS Capital during the 2nd quarter valued at about $208,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Down 1.5 %

Shares of AXS stock opened at $77.30 on Friday. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The company’s fifty day moving average price is $73.66 and its 200-day moving average price is $68.77. AXIS Capital Holdings Limited has a one year low of $52.90 and a one year high of $80.50.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts expect that AXIS Capital Holdings Limited will post 10.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Roth Mkm increased their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America lifted their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price objective on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their target price on AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, UBS Group upped their price target on AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, AXIS Capital presently has a consensus rating of “Hold” and an average target price of $76.29.

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.