Axis Capital Holdings Limited $AXS Shares Bought by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC lifted its stake in Axis Capital Holdings Limited (NYSE:AXS) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,795 shares of the insurance provider’s stock after acquiring an additional 5,194 shares during the period. Axis Capital accounts for approximately 1.9% of Elevate Capital Advisors LLC’s holdings, making the stock its 18th biggest position. Elevate Capital Advisors LLC’s holdings in Axis Capital were worth $2,869,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AXS. Ritholtz Wealth Management raised its holdings in shares of Axis Capital by 22.7% in the 4th quarter. Ritholtz Wealth Management now owns 4,691 shares of the insurance provider’s stock worth $502,000 after purchasing an additional 868 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Axis Capital by 27.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 439,989 shares of the insurance provider’s stock worth $47,118,000 after buying an additional 95,207 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Axis Capital in the fourth quarter worth approximately $51,000. Paragon Capital Management Ltd acquired a new position in Axis Capital in the fourth quarter worth approximately $208,000. Finally, Aaron Wealth Advisors LLC grew its position in Axis Capital by 31.1% in the fourth quarter. Aaron Wealth Advisors LLC now owns 5,197 shares of the insurance provider’s stock worth $557,000 after buying an additional 1,233 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Axis Capital Stock Down 4.0%

AXS stock opened at $98.32 on Friday. Axis Capital Holdings Limited has a 52-week low of $88.07 and a 52-week high of $110.34. The company’s 50 day simple moving average is $102.42 and its 200-day simple moving average is $100.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $7.29 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.94 and a beta of 0.63.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $3.38 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. Axis Capital’s payout ratio is currently 14.21%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AXS. Bank of America decreased their price target on shares of Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Mizuho set a $141.00 price target on shares of Axis Capital in a research report on Monday, February 2nd. Jefferies Financial Group restated a “buy” rating and issued a $122.00 price target on shares of Axis Capital in a research report on Friday, January 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $110.00 price target on shares of Axis Capital in a research report on Wednesday, January 7th. Finally, Weiss Ratings upgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.80.

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.