Mackenzie Financial Corp Makes New $6.03 Million Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Mackenzie Financial Corp purchased a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, Holdings Channel.com reports. The fund purchased 108,839 shares of the insurance provider’s stock, valued at approximately $6,026,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in AXIS Capital during the 4th quarter worth about $1,785,000. Graham Capital Management L.P. grew its position in shares of AXIS Capital by 721.0% during the 3rd quarter. Graham Capital Management L.P. now owns 58,670 shares of the insurance provider’s stock valued at $3,307,000 after acquiring an additional 51,524 shares during the period. Sei Investments Co. grew its position in shares of AXIS Capital by 3.9% during the 3rd quarter. Sei Investments Co. now owns 323,408 shares of the insurance provider’s stock valued at $18,230,000 after acquiring an additional 12,019 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of AXIS Capital during the 3rd quarter valued at about $5,767,000. Finally, Vanguard Group Inc. grew its position in shares of AXIS Capital by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after acquiring an additional 207,233 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AXIS Capital

In related news, Director Stanley A. Galanski acquired 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were acquired 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 owns 9,763 shares of the company’s stock, valued at $570,647.35. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

AXIS Capital Stock Up 1.6 %

NYSE:AXS opened at $62.47 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $62.62 and its two-hundred day moving average is $58.34. AXIS Capital Holdings Limited has a 52 week low of $51.61 and a 52 week high of $65.86. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.80.

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

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, March 1st. AXIS Capital’s dividend payout ratio is currently 43.78%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AXS shares. StockNews.com cut AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Wells Fargo & Company dropped their target price on AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Thursday, April 11th. UBS Group raised their target price on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods raised their target price on AXIS Capital from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.