Johnson Investment Counsel Inc. Boosts Holdings in Axis Capital Holdings Limited $AXS

Johnson Investment Counsel Inc. raised its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 0.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,222,932 shares of the insurance provider’s stock after buying an additional 6,571 shares during the period. Axis Capital comprises about 1.0% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 28th largest holding. Johnson Investment Counsel Inc. owned 1.59% of Axis Capital worth $117,157,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AXS. Norges Bank acquired a new stake in Axis Capital during the second quarter worth about $100,683,000. Altrinsic Global Advisors LLC boosted its position in Axis Capital by 47.7% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock worth $188,662,000 after purchasing an additional 586,576 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Axis Capital during the 2nd quarter worth approximately $55,025,000. Allianz Asset Management GmbH increased its holdings in shares of Axis Capital by 174.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 744,842 shares of the insurance provider’s stock valued at $77,329,000 after purchasing an additional 473,608 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Axis Capital by 12.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,716,201 shares of the insurance provider’s stock valued at $383,698,000 after purchasing an additional 425,790 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Down 3.2%

NYSE AXS opened at $103.07 on Tuesday. The business has a fifty day moving average price of $103.98 and a 200 day moving average price of $99.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $7.94 billion, a P/E ratio of 8.32, a P/E/G ratio of 3.19 and a beta of 0.63. Axis Capital Holdings Limited has a one year low of $84.81 and a one year high of $110.34.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.28. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.90%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.38 earnings per share. Research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is 14.21%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $120.00 price objective on shares of Axis Capital in a research report on Thursday, January 29th. Bank of America reduced their price target on Axis Capital from $119.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Mizuho set a $141.00 price objective on Axis Capital in a report on Monday, February 2nd. Royal Bank Of Canada boosted their price objective on Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company decreased their target price on Axis Capital from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

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.