Clear Harbor Asset Management LLC Sells 15,654 Shares of Axis Capital Holdings Limited $AXS

Clear Harbor Asset Management LLC trimmed its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 21.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,833 shares of the insurance provider’s stock after selling 15,654 shares during the quarter. Clear Harbor Asset Management LLC owned about 0.08% of Axis Capital worth $5,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AXS. Royal Bank of Canada lifted its holdings in shares of Axis Capital by 12.4% during the first quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider’s stock valued at $6,361,000 after purchasing an additional 7,023 shares during the last quarter. Millennium Management LLC raised its stake in Axis Capital by 76.3% during the first quarter. Millennium Management LLC now owns 212,241 shares of the insurance provider’s stock valued at $21,275,000 after buying an additional 91,866 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Axis Capital by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider’s stock worth $20,605,000 after acquiring an additional 12,680 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Axis Capital by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,752 shares of the insurance provider’s stock worth $30,649,000 after acquiring an additional 20,159 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Axis Capital by 86.2% during the first quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider’s stock valued at $4,739,000 after acquiring an additional 21,892 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Trading Up 0.6%

Shares of AXS stock opened at $103.80 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. Axis Capital Holdings Limited has a 12-month low of $83.90 and a 12-month high of $110.34. The stock has a market capitalization of $8.00 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.03 and a beta of 0.65. The firm’s 50 day moving average is $102.66 and its 200 day moving average is $98.66.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.53. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. Research analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Dividend Announcement

The company 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 $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is presently 14.55%.

Analysts Set New Price Targets

AXS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday. Weiss Ratings reiterated a “buy (a-)” rating on shares of Axis Capital in a research note on Monday, December 29th. Wells Fargo & Company set a $123.00 price target on shares of Axis Capital and gave the company an “overweight” rating in a report on Wednesday, October 8th. Bank of America restated a “neutral” rating and issued a $115.00 price objective (down from $116.00) on shares of Axis Capital in a report on Tuesday. Finally, UBS Group upped their price objective on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.90.

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.