ProShare Advisors LLC Decreases Stake in Axis Capital Holdings Limited (AXS)
ProShare Advisors LLC lowered its position in Axis Capital Holdings Limited (NYSE:AXS) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,184 shares of the insurance provider’s stock after selling 840 shares during the period. ProShare Advisors LLC’s holdings in Axis Capital Holdings Limited were worth $788,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Laurion Capital Management LP purchased a new position in shares of Axis Capital Holdings Limited in the 2nd quarter valued at approximately $2,754,000. Stevens Capital Management LP bought a new stake in shares of Axis Capital Holdings Limited during the second quarter valued at approximately $1,432,000. BT Investment Management Ltd bought a new stake in shares of Axis Capital Holdings Limited during the second quarter valued at approximately $5,349,000. BlueMountain Capital Management LLC boosted its position in shares of Axis Capital Holdings Limited by 62.0% during the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 979 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Axis Capital Holdings Limited by 23.1% during the second quarter. Amalgamated Bank now owns 15,336 shares of the insurance provider’s stock valued at $992,000 after purchasing an additional 2,877 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Axis Capital Holdings Limited (NYSE AXS) opened at 57.31 on Monday. The firm has a 50-day moving average price of $61.28 and a 200 day moving average price of $64.48. The company has a market capitalization of $4.77 billion, a P/E ratio of 12.65 and a beta of 0.59. Axis Capital Holdings Limited has a 12-month low of $52.15 and a 12-month high of $71.06.
Axis Capital Holdings Limited (NYSE:AXS) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, topping the 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 firm had revenue of $956.02 million during the quarter, compared to analysts’ expectations of $989.95 million. During the same quarter in the prior year, the company earned $0.51 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that Axis Capital Holdings Limited will post $4.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 9th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.65%. This is a positive change from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, October 5th. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is presently 33.70%.
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Several equities research analysts recently weighed in on AXS shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price target (up from $68.00) on shares of Axis Capital Holdings Limited in a research note on Thursday, July 6th. Zacks Investment Research raised Axis Capital Holdings Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine lowered Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 price objective on shares of Axis Capital Holdings Limited in a research report on Friday, August 18th. Finally, Buckingham Research assumed coverage on shares of Axis Capital Holdings Limited in a report on Monday, September 11th. They set a “neutral” rating and a $58.00 target price on the stock. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.60.
Axis Capital Holdings Limited 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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