Lord Abbett & CO. LLC reduced its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 566,542 shares of the insurance provider’s stock after selling 46,200 shares during the period. Lord Abbett & CO. LLC owned approximately 0.68% of Axis Capital Holdings Limited worth $36,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXS. Nepsis Capital Management Inc. raised its holdings in Axis Capital Holdings Limited by 106.6% in the second quarter. Nepsis Capital Management Inc. now owns 80,774 shares of the insurance provider’s stock worth $5,223,000 after purchasing an additional 41,673 shares during the period. Clinton Group Inc. raised its holdings in Axis Capital Holdings Limited by 286.1% in the second quarter. Clinton Group Inc. now owns 50,389 shares of the insurance provider’s stock worth $3,258,000 after purchasing an additional 37,338 shares during the period. Dai Ichi Life Insurance Company Ltd raised its holdings in Axis Capital Holdings Limited by 6.0% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 80,116 shares of the insurance provider’s stock worth $5,180,000 after purchasing an additional 4,554 shares during the period. BT Investment Management Ltd acquired a new stake in Axis Capital Holdings Limited in the second quarter worth $5,349,000. Finally, BlackRock Inc. raised its holdings in Axis Capital Holdings Limited by 3,740.9% in the first quarter. BlackRock Inc. now owns 6,741,122 shares of the insurance provider’s stock worth $451,855,000 after purchasing an additional 6,565,613 shares during the period. Institutional investors and hedge funds own 86.08% of the company’s stock.

Several equities research analysts have weighed in on AXS shares. Bank of America Corporation cut their target price on shares of Axis Capital Holdings Limited from $73.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 13th. MKM Partners cut their target price on shares of Axis Capital Holdings Limited from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine lowered shares of Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Seven investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.10.

Shares of Axis Capital Holdings Limited (AXS) opened at 57.04 on Friday. The stock’s 50 day moving average is $56.98 and its 200 day moving average is $62.73. Axis Capital Holdings Limited has a 12 month low of $52.15 and a 12 month high of $71.06. The company has a market cap of $4.74 billion, a P/E ratio of 12.59 and a beta of 0.59.

Axis Capital Holdings Limited (NYSE:AXS) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a net margin of 10.81% and a return on equity of 9.17%. The company had revenue of $956.02 million for the quarter, compared to the consensus estimate of $989.95 million. During the same quarter in the previous year, the company earned $0.51 EPS. Axis Capital Holdings Limited’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Axis Capital Holdings Limited will post ($1.81) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 9th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, October 5th. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. Axis Capital Holdings Limited’s payout ratio is presently 33.70%.

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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.

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

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