Envestnet Asset Management Inc. Decreases Stock Holdings in Axis Capital Holdings Limited (NYSE:AXS)

Envestnet Asset Management Inc. reduced its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,851 shares of the insurance provider’s stock after selling 802 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Axis Capital worth $7,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in shares of Axis Capital by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 6,694 shares of the insurance provider’s stock worth $671,000 after acquiring an additional 145 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Axis Capital by 21.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 160 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Axis Capital by 0.4% in the 4th quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider’s stock valued at $3,626,000 after buying an additional 163 shares during the period. Miracle Mile Advisors LLC increased its stake in Axis Capital by 7.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,736 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 197 shares during the period. Finally, Pitcairn Co. boosted its holdings in Axis Capital by 3.1% in the fourth quarter. Pitcairn Co. now owns 7,989 shares of the insurance provider’s stock valued at $708,000 after purchasing an additional 237 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Axis Capital from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Friday, April 11th. UBS Group boosted their target price on Axis Capital from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Wells Fargo & Company upped their price target on Axis Capital from $104.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Cowen reissued a “buy” rating on shares of Axis Capital in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods boosted their target price on Axis Capital from $118.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.25.

Axis Capital Stock Down 0.9%

AXS stock opened at $96.24 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $7.57 billion, a P/E ratio of 9.55, a P/E/G ratio of 1.17 and a beta of 0.81. The business has a 50-day moving average of $101.20 and a 200-day moving average of $96.09. Axis Capital Holdings Limited has a fifty-two week low of $70.16 and a fifty-two week high of $107.19.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.53. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.83 billion. Axis Capital had a return on equity of 19.01% and a net margin of 14.54%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.07 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, June 30th. Axis Capital’s dividend payout ratio is currently 17.46%.

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.