Wedge Capital Management L L P NC acquired a new stake in Axis Capital Holdings Limited (NYSE:AXS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 587,864 shares of the insurance provider’s stock, valued at approximately $35,066,000.

Other large investors have also recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new stake in Axis Capital during the 4th quarter worth $645,000. State of Alaska Department of Revenue increased its stake in Axis Capital by 113.9% in the first quarter. State of Alaska Department of Revenue now owns 18,973 shares of the insurance provider’s stock valued at $1,037,000 after purchasing an additional 10,103 shares during the period. Virtu Financial LLC acquired a new position in Axis Capital in the first quarter valued at $209,000. Sciencast Management LP acquired a new position in Axis Capital in the first quarter valued at $589,000. Finally, Quantitative Systematic Strategies LLC increased its stake in Axis Capital by 19.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 26,712 shares of the insurance provider’s stock valued at $1,463,000 after purchasing an additional 4,395 shares during the period. 89.88% of the stock is owned by institutional investors and hedge funds.

Shares of Axis Capital stock traded down $1.26 on Wednesday, reaching $63.42. 5,556 shares of the stock were exchanged, compared to its average volume of 546,857. Axis Capital Holdings Limited has a 1-year low of $48.27 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day simple moving average is $61.29. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 1.49 and a beta of 0.34.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.34. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Axis Capital Holdings Limited will post 5.06 earnings per share for the current fiscal year.

AXS has been the topic of a number of recent research reports. TheStreet upgraded shares of Axis Capital from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. Buckingham Research upgraded shares of Axis Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $70.00 in a research note on Friday, July 19th. Morgan Stanley set a $62.00 price objective on shares of Axis Capital and gave the company a “hold” rating in a research note on Friday, April 26th. ValuEngine upgraded shares of Axis Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, UBS Group upgraded shares of Axis Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Axis Capital currently has a consensus rating of “Buy” and an average price target of $64.00.

Axis Capital Profile

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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