Allspring Global Investments Holdings LLC Sells 144,842 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Allspring Global Investments Holdings LLC reduced its position in AXIS Capital Holdings Limited (NYSE:AXS) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,174,204 shares of the insurance provider’s stock after selling 144,842 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.39% of AXIS Capital worth $82,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of AXIS Capital during the 4th quarter valued at approximately $52,845,000. ING Groep NV acquired a new position in shares of AXIS Capital in the fourth quarter valued at approximately $1,168,000. Toronto Dominion Bank acquired a new stake in AXIS Capital in the first quarter valued at $5,137,000. Foundry Partners LLC lifted its holdings in AXIS Capital by 35.6% during the 1st quarter. Foundry Partners LLC now owns 85,803 shares of the insurance provider’s stock worth $5,579,000 after buying an additional 22,540 shares during the period. Finally, M&G Investment Management Ltd. acquired a new stake in shares of AXIS Capital in the fourth quarter valued at about $7,815,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

AXIS Capital Stock Up 0.5 %

Shares of NYSE AXS traded up $0.36 during trading on Tuesday, hitting $76.98. The stock had a trading volume of 12,504 shares, compared to its average volume of 587,574. 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 firm has a fifty day moving average of $72.44 and a two-hundred day moving average of $67.87. AXIS Capital Holdings Limited has a 12 month low of $52.90 and a 12 month high of $78.74. The company has a market capitalization of $6.52 billion, a PE ratio of 11.71, a PEG ratio of 0.27 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.41. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. AXIS Capital’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. As a group, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AXS shares. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Roth Mkm boosted their price target on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America boosted their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. UBS Group upped their price objective on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods increased their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.29.

AXIS Capital Company 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.