Globeflex Capital L P Acquires Shares of 11,158 Axis Capital Holdings Limited $AXS

Globeflex Capital L P acquired a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the second quarter, HoldingsChannel reports. The firm acquired 11,158 shares of the insurance provider’s stock, valued at approximately $1,199,000.

A number of other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management bought a new stake in shares of Axis Capital in the fourth quarter worth about $30,000. Assetmark Inc. boosted its stake in Axis Capital by 80.8% during the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock valued at $40,000 after buying an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Axis Capital during the first quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac purchased a new position in Axis Capital during the 4th quarter valued at approximately $47,000. Finally, DV Equities LLC purchased a new position in Axis Capital during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Trading Up 0.7%

Shares of AXS stock opened at $99.38 on Tuesday. Axis Capital Holdings Limited has a 1 year low of $88.07 and a 1 year high of $119.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $107.42 and its two-hundred day simple moving average is $103.11. The company has a market cap of $7.25 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 4.31 and a beta of 0.50.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AXS shares. Keefe, Bruyette & Woods decreased their price objective on Axis Capital from $131.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings lowered shares of Axis Capital from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. BMO Capital Markets restated a “market perform” rating on shares of Axis Capital in a research report on Wednesday, July 29th. Atlantic Securities set a $122.00 price target on shares of Axis Capital in a research note on Wednesday, July 15th. Finally, UBS Group lowered their price objective on shares of Axis Capital from $131.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Axis Capital currently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

About Axis Capital

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.