Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.38 Million Position in Axis Capital Holdings Limited $AXS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Axis Capital Holdings Limited (NYSE:AXS) by 103.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,884 shares of the insurance provider’s stock after purchasing an additional 6,548 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Axis Capital were worth $1,380,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Axis Capital by 12.4% in the 1st quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider’s stock valued at $6,361,000 after buying an additional 7,023 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Axis Capital by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider’s stock worth $20,605,000 after buying an additional 12,680 shares during the period. Jane Street Group LLC lifted its holdings in Axis Capital by 86.2% during the first quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider’s stock worth $4,739,000 after acquiring an additional 21,892 shares in the last quarter. Focus Partners Wealth lifted its holdings in Axis Capital by 42.1% during the first quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider’s stock worth $1,044,000 after acquiring an additional 3,085 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Axis Capital by 33.6% in the second quarter. Sivia Capital Partners LLC now owns 3,924 shares of the insurance provider’s stock valued at $407,000 after acquiring an additional 987 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Price Performance

NYSE AXS opened at $101.74 on Friday. The firm’s 50 day moving average is $102.63 and its 200-day moving average is $100.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.53 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. Axis Capital Holdings Limited has a 12-month low of $84.81 and a 12-month high of $110.34.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.97 by $0.28. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.38 earnings per share. Equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 31st. Axis Capital’s dividend payout ratio is currently 14.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXS. Bank of America dropped their price target 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. UBS Group reiterated a “buy” rating on shares of Axis Capital in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $110.00 target price on shares of Axis Capital in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $120.00 price target on shares of Axis Capital in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Axis Capital has an average rating of “Moderate Buy” and an average target price of $124.00.

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.