Belpointe Asset Management LLC Purchases Shares of 26,400 Axis Capital Holdings Limited (AXS)
Belpointe Asset Management LLC purchased a new position in shares of Axis Capital Holdings Limited (NYSE:AXS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,400 shares of the insurance provider’s stock, valued at approximately $1,513,000.
Several other large investors have also recently added to or reduced their stakes in AXS. California Public Employees Retirement System raised its stake in Axis Capital by 4.2% in the 3rd quarter. California Public Employees Retirement System now owns 333,652 shares of the insurance provider’s stock valued at $19,122,000 after purchasing an additional 13,407 shares during the last quarter. Crestline Management LP acquired a new position in Axis Capital in the 3rd quarter valued at about $703,000. Cornerstone Capital Management Holdings LLC. raised its stake in Axis Capital by 206.9% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 75,921 shares of the insurance provider’s stock valued at $4,351,000 after purchasing an additional 51,180 shares during the last quarter. Accident Compensation Corp raised its stake in Axis Capital by 150.8% in the 3rd quarter. Accident Compensation Corp now owns 43,479 shares of the insurance provider’s stock valued at $2,492,000 after purchasing an additional 26,141 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Axis Capital in the 3rd quarter valued at about $224,000. 87.47% of the stock is owned by institutional investors and hedge funds.
Shares of Axis Capital Holdings Limited (NYSE:AXS) opened at $50.56 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51. Axis Capital Holdings Limited has a fifty-two week low of $49.80 and a fifty-two week high of $71.06.
Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($5.34) by ($0.01). Axis Capital had a negative return on equity of 2.59% and a negative net margin of 4.55%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $972.10 million. During the same quarter in the previous year, the firm posted $1.78 EPS. equities analysts predict that Axis Capital Holdings Limited will post -2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Axis Capital’s previous quarterly dividend of $0.38. Axis Capital’s payout ratio is presently -49.51%.
In other news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the completion of the sale, the executive vice president now owns 6,027 shares in the company, valued at approximately $315,272.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is currently owned by insiders.
AXS has been the subject of several analyst reports. MKM Partners cut their target price on shares of Axis Capital from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Bank of America cut their target price on shares of Axis Capital from $73.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 13th. TheStreet downgraded shares of Axis Capital from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. Morgan Stanley dropped their price objective on shares of Axis Capital from $70.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Finally, ValuEngine downgraded shares of Axis Capital from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.45.
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About Axis Capital
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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