Bank of New York Mellon Corp Has $31.51 Million Stock Holdings in Axis Capital Holdings Limited (NYSE:AXS)

Bank of New York Mellon Corp raised its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 314,372 shares of the insurance provider’s stock after purchasing an additional 8,443 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Axis Capital worth $31,513,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Axis Capital in the 1st quarter valued at $33,000. Steward Partners Investment Advisory LLC bought a new position in shares of Axis Capital in the 4th quarter valued at $53,000. EverSource Wealth Advisors LLC lifted its stake in shares of Axis Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 285 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Axis Capital by 21.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider’s stock valued at $80,000 after acquiring an additional 160 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Axis Capital in the 4th quarter valued at $88,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Price Performance

Shares of Axis Capital stock opened at $95.97 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.19 and a beta of 0.81. Axis Capital Holdings Limited has a 52 week low of $70.16 and a 52 week high of $107.19. The stock’s 50-day simple moving average is $101.44 and its 200-day simple moving average is $95.87.

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

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.83%. Axis Capital’s payout ratio is currently 17.46%.

Analysts Set New Price Targets

AXS has been the subject of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Axis Capital in a research report on Thursday, May 1st. Wall Street Zen upgraded Axis Capital from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods boosted their target price on Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Wells Fargo & Company lifted their price target on shares of Axis Capital from $104.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Cowen restated a “buy” rating on shares of Axis Capital in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.25.

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.