Bank of New York Mellon Corp Has $16.10 Million Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Bank of New York Mellon Corp decreased its holdings in AXIS Capital Holdings Limited (NYSE:AXS) by 6.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 295,242 shares of the insurance provider’s stock after selling 21,475 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of AXIS Capital worth $16,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Machina Capital S.A.S. acquired a new stake in AXIS Capital in the 1st quarter worth about $27,000. US Bancorp DE raised its stake in AXIS Capital by 447.2% in the 1st quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 398 shares in the last quarter. Horizon Bancorp Inc. IN acquired a new stake in AXIS Capital in the 4th quarter worth about $33,000. Lazard Asset Management LLC acquired a new position in shares of AXIS Capital in the 1st quarter valued at approximately $33,000. Finally, Gyon Technologies Capital Management LP acquired a new position in shares of AXIS Capital in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.61% of the company’s stock.

Insider Activity at AXIS Capital

In related news, Director Henry B. Smith sold 6,000 shares of AXIS Capital stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $55.50, for a total transaction of $333,000.00. Following the sale, the director now directly owns 49,710 shares of the company’s stock, valued at approximately $2,758,905. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

AXIS Capital Trading Up 1.3 %

Shares of AXIS Capital stock opened at $55.28 on Wednesday. The firm has a market capitalization of $4.71 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $54.41 and its 200 day moving average is $55.33. AXIS Capital Holdings Limited has a 1 year low of $48.32 and a 1 year high of $63.99.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.46. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.39 billion. AXIS Capital had a net margin of 6.85% and a return on equity of 14.09%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. Equities research analysts forecast that AXIS Capital Holdings Limited will post 8.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXS has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of AXIS Capital from $59.00 to $61.00 and gave the company a “market perform” rating in a research report on Wednesday, August 9th. StockNews.com initiated coverage on shares of AXIS Capital in a research report on Thursday, August 17th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.00.

AXIS Capital Company Profile

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 classes covering offshore energy, cargo, liability, kidnap and ransom, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.