VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 39,830 Axis Capital Holdings Limited $AXS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Axis Capital Holdings Limited (NYSE:AXS) in the second quarter, HoldingsChannel.com reports. The firm bought 39,830 shares of the insurance provider’s stock, valued at approximately $4,279,000.

A number of other hedge funds also recently bought and sold shares of AXS. Assetmark Inc. raised its holdings in Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Axis Capital in the first quarter valued at $43,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital in the fourth quarter valued at $47,000. DV Equities LLC purchased a new stake in Axis Capital during the 4th quarter worth about $54,000. Finally, Global Retirement Partners LLC raised its position in shares of Axis Capital by 1,062.5% during the 4th quarter. Global Retirement Partners LLC now owns 558 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 510 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Stock Down 0.3%

AXS stock opened at $98.36 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $106.10 and its 200 day moving average price is $102.78. Axis Capital Holdings Limited has a 52 week low of $88.07 and a 52 week high of $119.99. The company has a market cap of $7.18 billion, a P/E ratio of 6.99, a P/E/G ratio of 4.30 and a beta of 0.49.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.41). Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $3.29 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Axis Capital Holdings Limited will post 12.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Axis Capital from $134.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Atlantic Securities set a $122.00 price objective on shares of Axis Capital in a research note on Wednesday, July 15th. Mizuho lowered their price target on Axis Capital from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd. Zacks Research downgraded Axis Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Finally, Capital One Financial set a $108.00 target price on Axis Capital in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.23.

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.