Dockside LLC Takes Position in Axis Capital Holdings Limited $AXS

Dockside LLC purchased a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 22,769 shares of the insurance provider’s stock, valued at approximately $2,438,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXS. Activest Wealth Management acquired a new stake in shares of Axis Capital during the 4th quarter valued at approximately $30,000. Abich Financial Wealth Management LLC acquired a new position in shares of Axis Capital during the 3rd quarter worth approximately $43,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Axis Capital during the 4th quarter worth approximately $47,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Axis Capital during the 4th quarter worth approximately $51,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Axis Capital during the 4th quarter worth approximately $55,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Trading Up 1.9%

Shares of AXS opened at $101.47 on Friday. The stock has a fifty day moving average of $99.32 and a two-hundred day moving average of $101.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $7.48 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. Axis Capital Holdings Limited has a fifty-two week low of $88.07 and a fifty-two week high of $110.34.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.Axis Capital’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 EPS. As a group, analysts forecast that Axis Capital Holdings Limited will post 13.25 EPS for the current year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.7%. Axis Capital’s payout ratio is 13.11%.

Analysts Set New Price Targets

Several research analysts recently issued reports on AXS shares. Mizuho set a $137.00 price objective on Axis Capital in a research report on Monday, May 4th. Keefe, Bruyette & Woods cut their price objective on Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company cut their price objective on Axis Capital from $123.00 to $119.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings downgraded Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. Finally, Bank of America cut their price objective on Axis Capital from $115.00 to $106.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Axis Capital presently has an average rating of “Moderate Buy” and an average price target of $122.10.

Insiders Place Their Bets

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

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.