Magnetar Financial LLC Purchases Shares of 47,334 Axis Capital Holdings Limited $AXS

Magnetar Financial LLC acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 47,334 shares of the insurance provider’s stock, valued at approximately $4,535,000. Magnetar Financial LLC owned about 0.06% of Axis Capital at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Smithfield Trust Co increased its holdings in shares of Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Axis Capital in the 3rd quarter worth about $29,000. AlphaCore Capital LLC purchased a new stake in shares of Axis Capital during the second quarter worth approximately $37,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Axis Capital during the second quarter worth $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Axis Capital in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AXS shares. 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. Bank of America decreased their target price on Axis Capital from $119.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. UBS Group restated a “buy” rating on shares of Axis Capital in a research note on Monday, February 2nd. The Goldman Sachs Group restated a “neutral” rating and set a $110.00 target price on shares of Axis Capital in a research note on Wednesday, January 7th. Finally, Compass Point set a $121.00 target price on Axis Capital in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Axis Capital has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Axis Capital Stock Down 1.4%

Shares of NYSE AXS opened at $99.86 on Thursday. The firm has a 50-day moving average price of $103.17 and a 200 day moving average price of $100.31. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. 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 released its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.28. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $3.38 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, March 31st. Axis Capital’s dividend payout ratio is presently 14.21%.

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.