Axis Capital Holdings Limited $AXS Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of Axis Capital Holdings Limited (NYSE:AXS) by 74.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,147 shares of the insurance provider’s stock after selling 42,065 shares during the quarter. Federated Hermes Inc.’s holdings in Axis Capital were worth $1,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in Axis Capital during the third quarter valued at about $29,000. Smithfield Trust Co lifted its holdings in Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 142 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Axis Capital during the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Axis Capital in the 2nd quarter worth approximately $41,000. Finally, Allworth Financial LP raised its holdings in shares of Axis Capital by 145.1% in the 2nd quarter. Allworth Financial LP now owns 581 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 344 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Axis Capital Price Performance

NYSE AXS opened at $106.51 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 3.18 and a beta of 0.63. The company has a 50 day simple moving average of $103.88 and a 200-day simple moving average of $99.10. Axis Capital Holdings Limited has a 52-week low of $84.81 and a 52-week high of $110.34.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 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 18.90%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $3.38 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. Equities research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is currently 14.21%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AXS shares. Wells Fargo & Company reduced their target price on shares of Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Mizuho set a $141.00 price objective on Axis Capital in a research report on Monday. Jefferies Financial Group reissued a “buy” rating and set a $122.00 price objective on shares of Axis Capital in a research note on Friday, January 30th. Bank of America cut their target price on Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada increased their price target on Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

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.