EMC Capital Management Trims Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

EMC Capital Management lessened its position in AXIS Capital Holdings Limited (NYSE:AXS) by 72.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,382 shares of the insurance provider’s stock after selling 16,623 shares during the period. AXIS Capital comprises about 0.3% of EMC Capital Management’s holdings, making the stock its 28th biggest position. EMC Capital Management’s holdings in AXIS Capital were worth $566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC acquired a new position in AXIS Capital in the 3rd quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its stake in AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd purchased a new position in AXIS Capital during the fourth quarter worth about $82,000. Finally, Blue Trust Inc. increased its stake in shares of AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $91.65 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a 1-year low of $55.56 and a 1-year high of $94.89. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.29 and a beta of 0.95. The business has a 50-day moving average of $89.95 and a 200-day moving average of $82.29.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. On average, equities analysts anticipate that AXIS Capital Holdings Limited will post 10.89 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is 24.41%.

Analyst Ratings Changes

Several research firms recently issued reports on AXS. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. Wells Fargo & Company lowered their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, UBS Group lifted their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.25.

AXIS Capital Company Profile

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.