Permanent Capital Management LP Buys Shares of 12,355 Axis Capital Holdings Limited $AXS

Permanent Capital Management LP bought a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,355 shares of the insurance provider’s stock, valued at approximately $1,189,000.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Axis Capital by 14.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,045 shares of the insurance provider’s stock worth $706,000 after buying an additional 915 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Axis Capital during the 1st quarter worth $563,000. Canada Pension Plan Investment Board bought a new position in shares of Axis Capital during the 1st quarter worth $2,857,000. Vident Advisory LLC purchased a new stake in Axis Capital in the 1st quarter worth about $419,000. Finally, Ewing Morris & Co. Investment Partners Ltd. bought a new stake in Axis Capital in the 1st quarter valued at about $221,000. Institutional investors own 93.44% of the company’s stock.

Axis Capital Trading Up 0.0%

Axis Capital stock opened at $109.00 on Monday. The stock has a market cap of $8.40 billion, a P/E ratio of 9.01, a PEG ratio of 1.06 and a beta of 0.65. Axis Capital Holdings Limited has a fifty-two week low of $83.90 and a fifty-two week high of $110.34. The firm’s fifty day moving average price is $100.04 and its 200-day moving average price is $98.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 0.67.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.72 by $0.53. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.6%. Axis Capital’s payout ratio is presently 14.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 target price for the company. UBS Group raised their price objective on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on shares of Axis Capital in a report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 target price on the stock. Weiss Ratings raised Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, December 22nd. Finally, Wells Fargo & Company set a $123.00 price target on Axis Capital and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axis Capital has an average rating of “Moderate Buy” and an average price target of $117.67.

About Axis Capital

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.