KBC Group NV Decreases Position in Axis Capital Holdings Limited (NYSE:AXS)

KBC Group NV decreased its position in Axis Capital Holdings Limited (NYSE:AXS) by 12.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,226 shares of the insurance provider’s stock after selling 442 shares during the period. KBC Group NV’s holdings in Axis Capital were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AXS. NBC Securities Inc. purchased a new position in shares of Axis Capital during the 1st quarter worth approximately $33,000. Steward Partners Investment Advisory LLC purchased a new position in Axis Capital during the fourth quarter worth $53,000. EverSource Wealth Advisors LLC raised its holdings in shares of Axis Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Axis Capital in the fourth quarter valued at $60,000. Finally, Assetmark Inc. acquired a new stake in shares of Axis Capital during the fourth quarter valued at $70,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Stock Performance

NYSE:AXS opened at $99.11 on Friday. The company has a market cap of $7.80 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.19 and a beta of 0.81. The firm’s 50 day moving average is $101.50 and its two-hundred day moving average is $95.48. Axis Capital Holdings Limited has a fifty-two week low of $69.44 and a fifty-two week high of $107.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.29.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.53. Axis Capital had a return on equity of 19.01% and a net margin of 14.54%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $3.07 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, June 30th. Axis Capital’s dividend payout ratio is currently 17.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cowen reissued a “buy” rating on shares of Axis Capital in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Axis Capital from a “hold” rating to a “buy” rating in a research report on Saturday, April 12th. Keefe, Bruyette & Woods lifted their target price on shares of Axis Capital from $114.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Jefferies Financial Group boosted their price target on Axis Capital from $116.00 to $119.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company raised their price objective on Axis Capital from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.75.

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.