CIBC Asset Management Inc cut its position in Axis Capital Holdings Limited (NYSE:AXS) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,862 shares of the insurance provider’s stock after selling 149 shares during the period. CIBC Asset Management Inc’s holdings in Axis Capital Holdings Limited were worth $702,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Axis Capital Holdings Limited during the second quarter worth approximately $150,000. Daiwa Securities Group Inc. boosted its position in shares of Axis Capital Holdings Limited by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock worth $188,000 after buying an additional 400 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Axis Capital Holdings Limited by 31.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,900 shares of the insurance provider’s stock worth $189,000 after buying an additional 700 shares during the last quarter. Assetmark Inc. boosted its position in shares of Axis Capital Holdings Limited by 5.0% in the first quarter. Assetmark Inc. now owns 3,347 shares of the insurance provider’s stock worth $224,000 after buying an additional 158 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in shares of Axis Capital Holdings Limited during the first quarter worth about $244,000. 89.74% of the stock is currently owned by institutional investors.

Axis Capital Holdings Limited (NYSE:AXS) opened at 64.20 on Tuesday. Axis Capital Holdings Limited has a one year low of $53.66 and a one year high of $71.06. The stock has a market cap of $5.34 billion, a P/E ratio of 14.17 and a beta of 0.60. The stock’s 50 day moving average price is $64.45 and its 200-day moving average price is $65.88.

Axis Capital Holdings Limited (NYSE:AXS) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. The company had revenue of $956.02 million for the quarter, compared to the consensus estimate of $989.95 million. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts predict that Axis Capital Holdings Limited will post $4.01 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Wednesday, June 28th. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is currently 33.70%.

TRADEMARK VIOLATION WARNING: “CIBC Asset Management Inc Cuts Stake in Axis Capital Holdings Limited (NYSE:AXS)” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.watchlistnews.com/cibc-asset-management-inc-cuts-stake-in-axis-capital-holdings-limited-nyseaxs/1488773.html.

A number of equities analysts recently issued reports on the company. ValuEngine upgraded Axis Capital Holdings Limited from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 target price on shares of Axis Capital Holdings Limited in a report on Friday, June 2nd. Zacks Investment Research cut Axis Capital Holdings Limited from a “hold” rating to a “strong sell” rating in a report on Monday, May 8th. Wells Fargo & Company restated a “sell” rating on shares of Axis Capital Holdings Limited in a report on Thursday, July 27th. Finally, Citigroup Inc. lifted their target price on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the stock a “sell” rating in a report on Thursday, July 13th. Six analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $66.78.

Axis Capital Holdings Limited Company Profile

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.

Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axis Capital Holdings Limited (NYSE:AXS).

Institutional Ownership by Quarter for Axis Capital Holdings Limited (NYSE:AXS)

Receive News & Ratings for Axis Capital Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital Holdings Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.