Envestnet Asset Management Inc. Buys 6,719 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Envestnet Asset Management Inc. boosted its stake in shares of AXIS Capital Holdings Limited (NYSE:AXSGet Rating) by 21.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,434 shares of the insurance provider’s stock after purchasing an additional 6,719 shares during the period. Envestnet Asset Management Inc.’s holdings in AXIS Capital were worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in AXIS Capital by 3.0% during the first quarter. SG Americas Securities LLC now owns 7,613 shares of the insurance provider’s stock valued at $460,000 after purchasing an additional 222 shares during the period. Gabelli Funds LLC lifted its position in AXIS Capital by 1.4% during the first quarter. Gabelli Funds LLC now owns 21,900 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 300 shares during the period. US Bancorp DE lifted its position in AXIS Capital by 447.2% during the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 398 shares during the period. Ziegler Capital Management LLC lifted its position in AXIS Capital by 2.8% during the second quarter. Ziegler Capital Management LLC now owns 14,845 shares of the insurance provider’s stock valued at $848,000 after purchasing an additional 399 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in AXIS Capital by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 28,525 shares of the insurance provider’s stock valued at $1,725,000 after purchasing an additional 453 shares during the period. Institutional investors own 91.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AXS. TheStreet downgraded shares of AXIS Capital from a “b” rating to a “c+” rating in a research report on Tuesday, July 26th. Wells Fargo & Company increased their price target on shares of AXIS Capital from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Morgan Stanley decreased their price target on shares of AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th. Finally, StockNews.com downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Monday, October 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.67.

AXIS Capital Stock Performance

Shares of NYSE AXS opened at $55.15 on Friday. The firm has a fifty day moving average price of $52.33 and a 200-day moving average price of $54.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $4.67 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.00 and a beta of 0.75. AXIS Capital Holdings Limited has a 1 year low of $48.32 and a 1 year high of $61.39.

AXIS Capital (NYSE:AXSGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The insurance provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AXIS Capital had a return on equity of 12.52% and a net margin of 7.47%. During the same period last year, the company earned $0.01 earnings per share. Equities analysts anticipate that AXIS Capital Holdings Limited will post 5.5 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Monday, October 3rd were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, September 30th. This represents a $1.72 annualized dividend and a yield of 3.12%. AXIS Capital’s payout ratio is 42.16%.

About AXIS Capital

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AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.

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Institutional Ownership by Quarter for AXIS Capital (NYSE:AXS)

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