Icon Wealth Partners LLC bought a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the first quarter, Holdings Channel reports. The institutional investor bought 696 shares of the insurance provider’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Mercantile Trust Co. raised its position in shares of Axis Capital by 120.8% in the 4th quarter. First Mercantile Trust Co. now owns 530 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 290 shares in the last quarter. Ffcm LLC raised its position in shares of Axis Capital by 1,286.8% in the 4th quarter. Ffcm LLC now owns 2,635 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 2,445 shares in the last quarter. Advisor Group Inc. raised its position in shares of Axis Capital by 439.3% in the 1st quarter. Advisor Group Inc. now owns 2,486 shares of the insurance provider’s stock worth $136,000 after acquiring an additional 2,025 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of Axis Capital in the 4th quarter worth $203,000. Finally, Virtu Financial LLC bought a new position in shares of Axis Capital in the 1st quarter worth $209,000. 89.47% of the stock is owned by institutional investors and hedge funds.

Shares of AXS stock opened at $59.58 on Friday. Axis Capital Holdings Limited has a 1-year low of $48.27 and a 1-year high of $60.67. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $4.92 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 1.43 and a beta of 0.43.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.16). Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Axis Capital Holdings Limited will post 4.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 2.69%. Axis Capital’s dividend payout ratio (DPR) is 83.33%.

Several research firms have recently commented on AXS. ValuEngine raised Axis Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded Axis Capital from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, April 2nd. TheStreet upgraded Axis Capital from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. UBS Group upgraded Axis Capital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $67.00 in a research note on Thursday, May 23rd. Finally, Keefe, Bruyette & Woods upgraded Axis Capital from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $61.00 to $67.00 in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Axis Capital currently has a consensus rating of “Buy” and an average price target of $62.57.

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About Axis Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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

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