Causeway Capital Management LLC Raises Stock Holdings in Axis Capital Holdings Limited $AXS

Causeway Capital Management LLC lifted its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 31.8% during the third quarter, HoldingsChannel.com reports. The fund owned 836,861 shares of the insurance provider’s stock after purchasing an additional 201,880 shares during the quarter. Axis Capital makes up 1.1% of Causeway Capital Management LLC’s holdings, making the stock its 17th largest position. Causeway Capital Management LLC’s holdings in Axis Capital were worth $80,171,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in Axis Capital in the 3rd quarter valued at $29,000. Smithfield Trust Co grew its position in Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Axis Capital during the 2nd quarter worth $37,000. Elevation Point Wealth Partners LLC acquired a new position in Axis Capital in the second quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Axis Capital in the third quarter valued at $43,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Axis Capital Stock Performance

NYSE:AXS opened at $101.38 on Tuesday. The firm’s fifty day simple moving average is $103.47 and its 200-day simple moving average is $100.30. 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 stock has a market cap of $7.50 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.61. Axis Capital Holdings Limited has a fifty-two week low of $84.81 and a fifty-two week high of $110.34.

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

Axis Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

AXS has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of Axis Capital in a research report on Monday, February 2nd. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Axis Capital in a research report on Thursday, January 29th. Compass Point set a $121.00 target price on shares of Axis Capital in a research note on Monday, November 24th. Finally, Royal Bank Of Canada boosted their price target on shares of Axis Capital from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.